"We will introduce a banded High Value Property Levy on properties worth more than £2 million."
Danny Alexander first made the pledge in October 2014: “We will introduce a new levy on the highest value properties – new bands on top of council tax.”
Speaking at the Liberal Democrat conference in Glasgow, Mr Alexander said the new tax will help “end the outrage that a £50 million pound property can currently pay the same as a half million pound home.”
From the party’s 2015 manifesto: “Liberal Democrats want to introduce a High Value Property Levy, the ‘Mansion Tax’, to help balance the books. We will set the bands and charges so that we raise £1 billion when the Levy is introduced in 2017/18.”
Nick Clegg, the party leader, unveiled the proposed mansion tax bands in April 2015, saying: “It’s not fair a family home in Lewisham pays the same property tax as an oligarch in a vast mansion.”