This afternoon the Labour party have published their motion for Tuesday's opposition day debate in the House of Commons and subsequent vote on the Mansion Tax and challenge the Lib Dems to back it. The Lib Dems proposed a Mansion Tax at the last general election on properties worth over two million pounds which Labour at the time opposed.
Shadow Financial Secretary to the Treasury, Chris Leslie, said: "If Nick Clegg and Vince Cable really believe in a fairer tax system they should back our motion in support of a mansion tax on properties over £2 million to pay for tax cuts for millions on middle and low incomes. After going along with a Tory tax cut for millionaires, a failing economic plan, a VAT rise and a trebling of tuition fees this is a chance for the Liberal Democrats to finally vote for something that was in their manifesto."
The full text of the motion is as follows:
“That this House believes that a mansion tax on properties worth over £2million, to fund a tax cut for millions of people on middle and low incomes, should be part of a fair tax system and calls on the Government to bring forward proposals at the earliest opportunity”.
Chief Secretary to the Treasury, Lib Dem, Danny Alexander said, when Labour announced their support for a Mansion Tax, said: "The best way to cut taxes for those on low incomes is take them out of tax altogether. That is why Liberal Democrats in Government are raising the Personal Allowance. From April, nearly 25m people will get a further Income Tax cut so they will be £600 a year better off than under Labour. Labour had 13 years in Government to make property taxes fairer by introducing the Liberal Democrat policy of a Mansion Tax. With the Liberal Democrats in Government the wealthy are paying more in each year of this Parliament compared to any under Labour."
