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The mansion tax: Ed Miliband house of horrors

By Jay Elwes  

Ed Miliband today announced the worst policy that he has yet thought up. In his speech to the Labour Party Conference, he said that, if he wins the next General Election, then he will introduce what he calls “a mansion tax,” a levy on homes worth more than £2m. It is a wholly ideological policy suggestion, that is riddled with holes and which will be entirely counterproductive. There are several reasons for this.

1 Valuations Who is going to value all of these houses? It would be impossible to implement a levy like this without first knowing which houses were…

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