Cable happy Labour has 'seen sense' over 'mansion tax'

Liberal Democrat Business Secretary Vince Cable Credit: ITV News

Responding to Labour's "mansion tax" announcement, the Business Secretary Vince Cable said it is "good that they've seen sense".

He said that levying a tax on houses worth more than £2 million was the "right thing to do" and that it was an "extreme anomaly" that someone living in a mansion pays the same tax as someone in a semi-detached house in the suburbs.