British Prime Minister David Cameron has ruled out the option of imposing mansion tax even if he is re-elected after the 2015 general election.
Both Labour and the Liberal Democrats have proposed a tax on properties worth more than £2million, which they estimate would raise £2billion and £1.7billion for government coffers respectively.
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Cameron said the Conservatives would not accept the introduction of the mansion tax as the price of forming another Coalition with the Liberal Democrats.
Cameron has rejected such a wealth tax, despite Nick Clegg, leader of the Liberal Democrats warning earlier this month that a levy on £2 million homes would be a red line policy in any future coalition talks.
The so-called mansion tax has come due to the increase in the value of their home at unprecedented levels.
Cameron was scathing about the Liberal Democrats’ cherished plans for a tax on wealth and said: "I have never been in favour of this idea. I think it’s a bad idea."
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By GlobalDataCameron added: "That’s correct. Stamp duty yes, council tax yes, but I think wealth taxes are not sensible for a country if it wants to support wealth creation, wants to reward saving and people who work hard and do the right thing."
Cameron has criticised Labour over its proposed two-year energy price freeze, as well as its plans to cancel a planned cut in the corporation tax from 21% to 20%.
"We’ve got twenty months to go between now and the election. I’m absolutely convinced, not for my benefit but I think for the country’s benefit, we need a strong government with a clear mandate that’s properly accountable," Cameron added.
