Ed Balls: Mansion tax would raise £1.7bn-£2bn

Shadow Chancellor Ed Balls Credit: ITV News

The Shadow Chancellor Ed Balls has said he expects a mansion tax on houses worth more than £2 million to bring in £1.7bn-£2bn.

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Miliband calls for 10p tax rate

The Labour leader Ed Miliband has said he would use the next Budget to bring back the 10p rate of income tax, paid for by a "mansion tax" on homes worth more than £2m. The 10p tax band was controversially scrapped by Gordon Brown.