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Labour Proposes £1.5m Mansion-Tax Threshold, Adding 160,000 Homes

By Drooid · Sep 27, 2026, 6:00 PM UTC · How we work

Summary

Story summary

Labour proposes lowering the mansion-tax threshold to £1.5 million, adding 160,000 homes and £800 million annually.
Four London councils and Labour MPs warn the lower threshold could affect ordinary family homes.
Chancellor John Healey drafts a budget amid tight public finances and no tax bombshell.
Healey says the defence plan still needs £4.7 billion but has not disclosed the funding source.

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Story summary

Labour proposes lowering the mansion-tax threshold to £1.5 million, adding 160,000 homes and £800 million annually.
Four London councils and Labour MPs warn the lower threshold could affect ordinary family homes.
Chancellor John Healey drafts a budget amid tight public finances and no tax bombshell.
Healey says the defence plan still needs £4.7 billion but has not disclosed the funding source.