Really sloppy piece from Janet Daley in the Sunday Telegraph highlighting contradictions in Coalition policies. Usually one of the best writers, she argues that Cameron contradicts himself by supporting both gay marriage & ethnic minorities (who are all apparently homophobic and bigoted) and then goes on to suggest that any taxes on high value property would be disastrous for aspiration because people living in these £2m+ homes are cash poor and would have to move. Just like Sunday Telegraph columnist Janet Daley. Personal prosperity (sometimes called “existing wealth”) goes from being a desirable outcome of economic life to a form of original sin to be penalised into extinction she argues. Well despite the sizeable earnings of a Telegraph columnist, she should understand that anyone who owns a property in excess of £2m is wealthy and needs to contribute more than someone living in a property one tenth of that value. That indeed is fairness. Particularly if they are non-doms paying little or no tax from earnings.
I certainly don't think we need a new mansion tax as Vince Cable is advocating. But a complete revaluation of council tax bands with extensions up to and beyond £2m we most certainly do.