Lib Dem tax on mansions (and palaces) pleases activists

The Lib Dems have been lecturing everyone for years on the iniquities of property taxes but today announced a new one of their own.

It would be a temporary measure pending the introduction of a local income tax.

It might be based on a whole new valuation or an old valuation that is uprated for property inflation.

Councils would collect it but central government would spend it – not very localist.

You might think activists would worry about this but in a world where old pricey progressive commitments are being snatched from their hands they are falling upon this as a reminder of why they’re in this party.

The proceeds go to raising income tax allowances to £10,000, taking low earners out of tax, and the tax hits those with £1m+ properties on a sliding scale (colleagues are calculating the bill for Her Majesty).

In the current politics of slasher wars it is some “red tofu” for the Lib Dem activists (copyright James Kirkup, Daily Telegraph).

– Related: How will Clegg avoid looking like a ‘hatchet-faced accountant’?