A split has appeared at the heart of the Coalition tonight over a "mansion tax", with the Chancellor describing the Labour proposal as a "con" while the Deputy Prime Minister accuses the Tories of "turning a blind eye to the super wealthy".
Chancellor George Osborne firmly ruled out adopting the proposed tax, which is backed by Labour and the Liberal Democrats, during an appearance on ITV's The Agenda.
But the Deputy PM Nick Clegg told ITV News that stance was wrong and said the current Tory policy was "unfair".
As ITV News' Political Correspondent Libby Wiener reports, the rift comes at a tense time politically, with both the Budget and the Eastleigh by-election looming.
Mr Osborne tonight said Labour's mansion tax proposals were an attempt by the opposition party to create a new tax. He told The Agenda host Tom Bradby:
Mr Osborne added Labour's stance was "just another thing that proves that I don't think they understand aspiration in this country."
Yet, at the same time, his Coalition colleague Mr Clegg was hitting out at the Conservatives for pursuing an "unfair" policy. He told ITV News:
The Deputy Prime Minister, though, refused to confirm whether he and his party will join Labour in voting for a mansion tax, despite accusing the party of "blatant plagiarism" over the policy.
Ed Miliband has called on the Liberal Democrat leader to back the plans he has long championed in public in a Commons vote and oppose the Conservatives.
But Mr Clegg told ITV News he would not yet stand with Labour on the issue because he has "no idea what we'll be voting on", adding:
Labour meanwhile responded to Mr Osborne's comments on ITV's The Agenda in which he attacked the party's plans for the mansion tax to fund a 10p tax rate.
Shadow Treasury Minister Chris Leslie said: