Labour’s ‘Mansion Tax’ is a dangerous trap

Those with the broadest shoulders may have the biggest homes, but as Michael Simmons of The Spectator has often said, they also have the longest legs. On Budget day, the final kites have been flown before Rachel Reeves brings the tax hammer down to fill her £30–40 billion black hole. One of her more destructive but popular ideas (amongst the people who won’t foot the bill) is that we are expecting to see a council tax surcharge on properties over £2 million in value.