Labour MP Marie Rimmer has told the Commons that parts of London’s prime property market have become “safety deposit boxes for corrupt wealth from around the world”, as she backed the Budget’s new Mansion Tax.

The MP for St Helens South and Whiston has claimed that the Mansion Tax ends a long-running unfairness in our society.  “Under the last Government, a Band D home in Darlington or Blackpool would cost nearly £300 more in council tax than a £10 million mansion in Mayfair, which cannot be right.”

Easing the burden on other households

She says working families have been paying more “to support their local public services than owners of luxury penthouses”, and the surcharge will ensure those in multimillion-pound homes “pay more, easing the burden on other households”.

She argues that London’s most expensive properties are often bought “not to live in, not to contribute to our communities, but simply to park their wealth beyond scrutiny”. Many, she says, sit empty “increasing in value, while some families struggle with overcrowding and soaring rents, and many people attempt to sleep on the streets”.

They will pay their fair share; and if their wealth is tied to Putin’s regime, corruption and the exploitation of the Russian people, London will no longer offer sanctuary.”

Rimmer says the Mansion Tax sends a clear message: “If people own property in Britain, they will contribute to Britain; if they use our capital as a private vault, they will pay their fair share; and if their wealth is tied to Putin’s regime, corruption and the exploitation of the Russian people, London will no longer offer sanctuary.”

And she adds that the Budget shows the Government “is prepared to make difficult choices in pursuit of fairness”, saying the surcharge demonstrates that “Britain will not tolerate a system rigged in favour of the corrupt and the powerful.”