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Miliband promotes 'mansion tax'

Ed Miliband insisted that Labour was the "only alternative" to the coalition Government as he joined his by-election campaigners in Eastleigh.

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Cable welcomes Labour 'mansion tax' move

Vince Cable supports a tax on the most expensive homes. Credit: Lewis Whyld/PA Wire/Press Association Images

Business Secretary Vince Cable has welcomed Labour’s support for a “mansion tax” – a policy long championed by the Lib Dems – but accused Ed Miliband’s party of “political games”.

He told Sky News: “I’m glad they [Labour] have seen sense. It’s a very sensible proposal which is designed to deal with extreme inequalities of wealth.

“It’s also designed to puncture the bubble in massive house prices, particularly in London and the south east, at the top end of the range…

“I think the Labour Party are probably playing political games but nonetheless it’s welcome that they’re endorsing it.”

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