Labour MPs lukewarm on mansion tax
A full council tax revaluation makes more sense than a mansion tax according to two fifths (39%) of Labour MPs, with just 56% backing the policy.
Overall seven in 10 (69%) MPs across the political spectrum support higher council tax bands in place of a mansion tax.
Ian Fletcher, director of policy at the British Property Federation, said: “This poll shows that a full council tax revaluation rightly commands widespread political support, particularly across the Labour party, and that the majority of MPs recognise that basing council tax on 1991 house prices is simply unsustainable.
“The mansion tax is a political gimmick that is more about the narrative of rich vs the rest than anything else.”
Fletcher added: “Reforming council tax through a revaluation and raising revenue through adding more council tax bands would restore fairness to the council tax system and be better for the country as a whole.
“It is particularly striking to see the level of support from MPs for reform across the Labour and Liberal parties, and that a number prefer it to a mansion tax.
“From the results of this poll the mandate for a mansion tax is very weak, even amongst those parties that have pushed it, and the right course of action would be to reform council tax.”
The majority (89%) of the Liberal Democrat MPs also prefer additional council tax bands to a mansion tax, as do 92% of Conservative MPs.
Labour MPs (87%) are very much in favour of updating council tax, compared to two thirds (64%) of Conservatives.
Council tax has stayed the same for 24 years since being introduced in 1991. Since then house price inflation has ranged from 160% to over 400% across England.
The British Property Federation said a mansion tax would unfairly punish buyers in London and also deter investors in the city.