There's nothing super about the Lib Dems' 'super tax'

Elderly couple The Liberal Democrats are nothing if not persistent. After the plan for a mansion tax was kicked into the long grass many parties would have let the idea drop but fuelled by Labour support of the tax, it has super-sized the plan.

The Lib Dem working party is working on a consultation paper that will be put before the party at the spring conference. And it seems that the liberal politicians are pulling out all the stops to prove they're on the side of the everyday person with a raft of taxes for the wealthy.

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The changes include a 'super tax' on property. It already put forward a mansion tax for properties over £2 million but now it wants a tax to cover all assets, including second homes.

The £2 million mansion tax threshold would include all properties not just a main residence so more people, particularly those who were able to jump into the buy-to-let market, would inch closer to paying tax on their property portfolio.

It is also putting forward two other property reforms, including a revision of council tax to try and differentiate very expensive properties and the introduction of a land value tax that would charge land owners of under-used sites.

The chances are you don't own a very expensive property, but don't worry you probably will get old and the Lib Dems tax will get you.

The party wants to reduce the annual pension tax relief to £30,000 from the current £40,000 and the lifetime allowance to £1 million from £1.25 million. And if you don't happen to save that much, it's fine the party wants to introduce a national insurance contribution for pensioners' earned income.

If the reduction in allowances hasn't put you off saving into a pension, then it's possible the thought of an extra government levy will.

If you're unlucky enough not to get old, you still won't escape the Lib Dems because you will, at some point, die.

And if you have a decent estate to leave behind then you could find yourself paying a death charge. It wants to levy a capital gains tax on assets sold after death and extend the period for gifts becoming exempt from inheritance tax from seven to 15 years.

The Lib Dems; the party that taxes you if you buy property, get old or die. Not a great message to send out.

But it's not surprising that the party is trying so hard following embarrassing defeats in the coalition government on student fees and the reduction of the 50p tax rate to 45p. But before they start taxing everyone to prove that 'we're all this together' the party should look beyond its own headline-grabbling to see whether the man on the street will actually benefit.
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