Widening the scope of the mansion tax would pull in people in the Midlands and North of England who had hoped to escape the charge, Andy Burnham has been warned.
The new Prime Minister is said to be considering reducing the threshold of the levy from £2m to £1.5m to raise more money for the Treasury.
But doing so would make the mansion tax more of a nationwide charge, rather than it being confined to London and the South East, say property experts.
Shorts
Lowering the threshold will also hit a “different kind of home” in the capital – affecting middle-class families in relatively modest three- and four-bedroom terrace houses.
