New Clause 9 — Lower rate of tax and mansion tax

Part of Finance Bill (Ways and Means) – in the House of Commons at 6:00 pm on 1st July 2013.

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Photo of Chris Leslie Chris Leslie Shadow Minister (Treasury) 6:00 pm, 1st July 2013

That was a good try by the Exchequer Secretary, and I understand where he is going with that argument, but I am not an estate agent and do not have a figure for the number of properties worth more than £2 million. However, it is very interesting that the Government have started counting the number of such properties. He talks about how the £2 billion would be defrayed across that number, which I am not sure is correct, but of course there would be a banding exercise, with different bands for properties worth more than £2 million, and we would see how far that goes. That is precisely why we need the Treasury to share some of its calculations with us. I am sure that it must be more than a back-of-a-fag-packet calculation from the Exchequer Secretary. Let us do the work, publish the findings—




Well, I will give way to him if he will agree to publish that work. Will he publish the internal Treasury assessment of the policy, because it would be very helpful?