Clegg to face mansion tax challenge

Nick CleggLabour will challenge Nick Clegg to back the introduction of a mansion tax in a Commons vote next week.

The Opposition has called a debate on Tuesday on the policy - long favoured by the Liberal Democrats.

It is understood the motion will not specifically link the levy to bringing back the 10p tax rate, which could have made it easier for the junior coalition partner to reject.

Instead it will indicate that revenue raised should go towards tax cuts for those on lower and middle incomes.

The text of the motion is: "That this House believes that a mansion tax on properties worth over £2 million, 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."

Shadow Treasury minister 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."

Tax tricks to improve your wealth

Tax tricks to improve your wealth