- Published: Thursday, 22 March 2012 14:49
- Written by Jonathan Walker
Lib Dem Business Secretary Vince Cable will continue to push for more property taxes in future budgets, he has said.
Speaking to regional newspapers following the Chancellor's Budget statement, he said he backed the cut in the highest rate of income tax from 50p to 45p because a range of other measures, such as increasing stamp duty on properties worth more than £2 million, means the rich will still pay may more in total (a claim Labour disputes).
But one thing that wasn't in the Budget was a full blown mansion tax of the sort he has been calling for. This would be an annual levy on properties worth more than £2 million, while stamp duty is only paid when a property is bought.