UK Budget 2012: Mansion tax plans are scrapped but now the better-off face raid on pensions | Mail Online
A multi-billion-pound raid on pension perks of the better-off could be introduced if the 50p top rate of income tax is scrapped.
Business Secretary Vince Cable’s proposal for a ‘mansion tax’ on properties worth £2million or more, which he floated this week, has run into a wall of resistance from senior Tories.
Liberal Democrat sources indicated yesterday that they accept a new property tax targeting the wealthy is unlikely to be included in the Budget in two weeks’ time.
But they are pushing for a hit on higher rate pension tax relief instead, if the Chancellor wants to abolish the 50p rate of tax on income over £150,000 before the next election.
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