Govt split over 'mansion tax'

The Coalition appears split over a "mansion tax." George Osborne told ITV's The Agenda said it will not be next month's Budget, calling it a "tax con". But Nick Clegg told ITV News the Tories "can't keep turning a blind eye to the super wealthy."

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Osborne: Mansion tax shows Labour 'don't understand aspiration'

Asked if he had previously been open to a "mansion tax", which had been backed by the Liberal Democrats, the Chancellor George Osborne told ITV's The Agenda:

I am opposed to it.

I think it's a homes tax and I'm not in favour of the mansion tax, which as I say you have to go and value all these homes around the country, the inspectors get their foot in the door, after the election suddenly it's everyone's homes that are potentially a target and Labour will have created a new tax.

It's just another thing that proves that I don't think they understand aspiration in this country.

People's homes that they've worked very hard for all their lives and saved for, and by the way people want to give those homes to their children as well.

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