Mansion tax: a threat to the UK economy and an appeal to envy (The Daily Telegraph)

CPS report “The Shrinking Case for a Mansion Tax” was the subject of a Daily Telegraph article, Wednesday 18 February 2015. 

To read the full article, visit the Daily Telegraph website

“Leading think tank the Centre for Policy Studies slammed the annual levy and said it would damage the UK’s investor-friendly reputation, deter workers in sectors such as financial services from moving to London, and chase away high net worth individuals from doing business in Britain.

“Such a measure would carry a wider economic risk and make the UK – and London in particular – significantly less attractive to domestic and overseas investors with significant consequences for the whole of the UK,” the paper stated.

“It should be remembered that wealthy overseas investors operate in a particularly competitive global environment. A mansion tax would send a strong message that such investors in the UK would be facing a punitive and uncertain tax regime – a message which poses perhaps the greatest risk of all.”

The policy, backed by Labour and the Liberal Democrats, could also reduce consumer spending.”

To read the full article, visit the Daily Telegraph website

Date Added: Wednesday 18th February 2015