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Burnham Mulls Cutting Mansion Tax Threshold to £1.5 million

7/21/2026

24 4 Full Breakdown

Summary

Story summary

Prime Minister Andy Burnham is considering lowering the mansion tax threshold from £2 million to £1.5 million.
Hamptons analysis estimates the cut would add about 137,000 households, raise £343 million a year, and double the number of liable owners.
Labour’s Fairer Share Campaign proposes a 0.48 percent proportional property tax as an alternative to the mansion levy.

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Story summary

Prime Minister Andy Burnham is considering lowering the mansion tax threshold from £2 million to £1.5 million.
Hamptons analysis estimates the cut would add about 137,000 households, raise £343 million a year, and double the number of liable owners.
Labour’s Fairer Share Campaign proposes a 0.48 percent proportional property tax as an alternative to the mansion levy.