Mansion tax could help solve London's housing shortage

11th July 2014

Tony Travers, director of the London School of Economics, writes in the Standard that housing taxes could help to build the homes London needs.

He says there is a need for a mansion tax in London because successive governments have left council tax to atrophy: there has been no revaluation since the tax was introduced in 1993. However, he adds that a proposed mansion tax would not be available to fund the local services that council tax does, even though virtually all the yield from one would be generated in the capital.

Source:   Evening Standard (07/07/2014)