Lib Dems revise mansion tax scheme

%VIRTUAL-SkimlinksPromo%Owners of homes worth over £2 million could be hit with a new levy based on council tax bands under the Liberal Democrats' revised proposals for their flagship "mansion tax".

Lib Dem Treasury Chief Secretary Danny Alexander said that the party would seek to impose a "modest additional banded levy" on top of council tax for high value properties if it was in government after the next general election.