Story perspectives

Burnham Proposes 0.48% Land-Value Levy, Cuts Inheritance Tax

7/21/2026

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Burnham Proposes Levy

Burnham’s Fairer Share-backed land-value levy would swap stamp duty and council tax for a 0.48 % charge to ease housing costs.
Mayor Andy Burnham announced the levy plan for England, citing fairness and revenue needs and to address widening inequality.
He also proposes scrapping inheritance tax, substituting a social-care levy on inherited assets for families.
The proposal for water ownership sent Severn Trent and United Utilities shares down 1.5 % significantly.

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Burnham Tax Talk

His remarks sent 10-year UK government bond yields above 5 %.
Prime Minister Andy Burnham said he may raise personal income-tax allowance and has not ruled out a 50p top rate.
Voters in Makerfield urged change, saying the frozen allowance forces more pensioners into income tax.
Burnham noted adjustment will be reviewed in the Budget, calling a 50p rate restoration premature.

History

Historical Context

After the Conservative-Liberal Democrat coalition introduced a 50 % top income-tax rate on earnings above £150,000 in 2010—announced by Prime Minister David Cameron and Chancellor George Osborne and projected to raise £8 billion—the rate was cut to 45 % in 2013. The move echoed earlier high-rate peaks, such as the 99.25 % wartime level, and informs today’s proposals like Burnham’s 0.48 % land-value levy.

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Burnham Proposes Levy

Burnham’s Fairer Share-backed land-value levy would swap stamp duty and council tax for a 0.48 % charge to ease housing costs.
Mayor Andy Burnham announced the levy plan for England, citing fairness and revenue needs and to address widening inequality.
He also proposes scrapping inheritance tax, substituting a social-care levy on inherited assets for families.
The proposal for water ownership sent Severn Trent and United Utilities shares down 1.5 % significantly.

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