PMQs: Badenoch attacks Labour over council tax

A mansion tax on homes worth more than £2million has been unveiled in a new raid on Britain’s wealthiest property owners.

In a move certain to trigger uproar in affluent suburbs and prime London postcodes, a leaked OBR document shows that owners of high-value homes will be hit with a council tax surcharge if their properties are valued over £2million. The move is expected to raise £0.4billion.

"There will be four price bands with the surcharge rising from £2,500 for a property valued in the lowest £2 million to £2.5 million band, to £7,500 for a property valued in the highest band of £5 million or more, all uprated by CPI inflation each year," the OBR said.

The financial watchdog said this should raise £400m in 2029-2030.

The measure co

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