The implications of mansion tax
Labours pledge to introduce mansion tax will hit the Carsons of this world rather than the Lord Granthams, according to Nick Leeming, Chairman of national estate agents Jackson-Stops & Staff, with 44 offices nationwide. Nick Leeming said: The Downton Abbey view of politics is distorting the realities of who own homes in the 2m plus bracket. This will affect people all over the country, not just in London where the market has been most buoyant. Many owners are people who have worked hard throughout their working lives and have been in their homes for many years or those who have invested in their home to provide a secure retirement. Many are asset-rich and income poor and the threat of a mansion tax would force these people to sell up. A council tax would be a much fairer way to raise income, with a revaluation of the whole system and extra bands introduced.