Has the deal been done to scrap the 50p rate?
What’ll be the political fall-out? All the signs are that a deal has been done by the coalition partners to scrap the 50p tax rate and that there’ll be some form of mansion tax. It’s suggested that the latter might be in the form of more council tax bands at the top for the most expensive dwellings. Already Ed Miliband has started attacking the plan saying that the new property tax, whatever its called, shouldn’t be used “as an excuse”…