Britain’s left-wing Labour government is considering intensifying its forthcoming tax raid on high-value homes, potentially hitting its own voters in the pocket.
\n\nA plan to hit the owners of high-value homes with a ‘Mansion Tax’ launched by the previous Labour government of Sir Keir Starmer and his hapless Chancellor Rachel Reeves may be intensified further, and could cost Labour politically in one of its most important heartlands. The Times of London notes it is understood that cutting the threshold for this property megatax from houses worth £2 million or more ($2.6 million) to £1.5 million ($2mn), as the government desperately seeks new sources of revenue to fund its spending priorities is being actively considered in Downing Street, and this could mean over a quarter of a million households nationwide will be liable to pay.
\n\nUnder the plan, depending how valuable the government decides any given home is, the households would have to pay an additional tax of between £2,500 to £7,500 ($3.3k-£10k) a year, every year. This would be on top of all other taxes, including the hefty property taxes already paid in the United Kingdom, which in some London areas is to double.
\n\nWhile Britain’s left-wing government making a…
Original source: https://www.breitbart.com/economy/
