Perspectives: A Review of Current Legal Issues and Trends Spring/Summer 2015

It was Vince Cable who, at the 2009 Liberal Democrat party conference, first proposed a “mansion tax” on owners of residential properties. Despite drawing much criticism — even among Liberal Democrat MPs — the policy made it into the party’s manifesto for the 2010 general election. The proposal was for an annual levy on that portion of a property’s value above £2 million, and was expected to raise approximately £1.1 billion for the Treasury every year. Read more.