John Healey weighs up dropping mansion tax threshold in 'war on middle class'

John Healey is said to be weighing up lowering the mansion tax threshold in a “war on the middle class” that would impact nearly 300,000 homes.The Government originally announced that an extra levy worth between £2,500 and £7,500 a year on properties worth more then £2million during the budget last November. The initial tax was expected to hit 134,000 homes.The Chancellor is now considering extending the levy to households that are worth £1.5million, which would see the number of homes hit with tax double to 271,000, according to current values. TRENDING Stories Videos Your Say Experts have claimed that the proposal could raise £800million a year.A source told The Times that lowering the threshold was a “live...

Read the full article at the source.