| Well the freebies scandal and their tendency to forget about paying tax would suggest that the Labour front bench are keen on feathering their nests. So I wouldn't entirely discount the possibility that personal considerations may have affected the decision to raise the limit from £1.5 million to £2 million. But my main objection is that tax increases specifically aimed at the rich raise little revenue (because there are not enough rich people to go around) disincentivise aspiration, encourage entrepreneurs to leave the country and slow economic growth. It is clear that the mansion tax, if it actually forms part of the budget , will only have been included as a sop to the left of the party, for whom socialism means soaking the rich, defined as people richer than themselves. |