We would 'put right a mistake' made by Gordon Brown

We would tax houses worth over £2 million and we would use the money to cut taxes for working people.

We would put right a mistake made by [former Prime Minister] Gordon Brown and the last Labour government.

We would use the money raised by a mansion tax to reintroduce a lower 10p starting rate of tax, with the size of the band depending on the amount raised.

This would benefit 25 million basic rate taxpayers and it would move Labour on from the past and put Labour where it should always have been - on the side of working people.

– Ed Miliband, Labour leader

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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.