Ed Miliband to announce mansion tax to improve NHS health and social care

 
Billy Ehrenberg
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Ed Milliband is set to announce a "mansion tax" to fund new an NHS spending increase (Source: Getty)

Ed Milliband is set to announce a "mansion tax" to fund new an NHS spending increase.

In a speech tomorrow to party activists in Manchester the Labour leader will announce the plan to tax properties worth more than £2m, with the proceeds paying for improvements in health and social care.

With the election fast approaching, Miliband will be hoping this will be a standout policy to rally supporters. He has already announced plans to raise the minimum wage, which we analysed using Big Macs.

Labour has long cast itself as the party of the NHS, and the battlelines have now clearly been drawn.

Shadow chancellor Ed Balls indicated today that Labour would "save" the NHS from the Tories and that the party would do "whatever it takes" to achieve that end.

The new taxes are calculated to raise £1.2bn, with "those with properties worth tens of millions of pounds make a significantly bigger contribution than those in houses just above the limit."

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