Clegg 'ready to abandon mansion tax'
The Lib Dems are willing to abandon their support for a "mansion tax" in favour of higher council taxes on some properties, Nick Clegg has said.
In a speech to the Institute for Government, the Deputy Prime Minister said he was proud of Liberal Democrat policies on taxation, which he hailed as "an approach to tax that puts payslips before palaces".
"Both options - a mansion tax or new council tax bands at the top end - are based on a very simple principle: that we should ask a small number of very wealthy individuals to make a reasonable contribution in order to provide desperately needed help for millions of ordinary people," the Lib Dem leader said.
"Nothing could do more to demonstrate a commitment to greater fairness in our tax system. I will continue to make this argument, in this Coalition and beyond. My approach is simple: taxes on mansions; tax cuts for millions. An approach to tax that puts payslips before palaces, if you like."