Clause 211 - Rate in respect of residential property where consideration over £2m

Part of Finance Bill – in a Public Bill Committee at 12:00 pm on 26 June 2012.

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Photo of Stephen Williams Stephen Williams Liberal Democrat, Bristol West 12:00, 26 June 2012

To focus the hon. Lady’s attention precisely on the clause, which is about a tax that raises money from the wealthy, who are able to buy properties worth more than £2 million: why were effective taxes on the wealthy not introduced from 2001-02 onwards to bridge the structural deficit, and from 2007 to deal with the recession?