There are better alternatives than a mansion tax for politicians to find revenues in the short to medium term, Alex Henderson writes.
There has been much noise in recent weeks about a possible mansion tax on properties worth over £2m.
It’s easy to see why governments might eye up the UK’s property as a potential source of revenue. Home owners in prime central London in particular have benefited from continued rises in property prices. Politicians may feel there’s scope for the country as a whole to share in this growth which has been largely dependent on London’s attractiveness as a financial centre.
But would the UK remain so attractive if new taxes on wealth such as a mansion tax are imposed? Is it more likely we see high net worth individuals relocating elsewhere...
