Thursday 26 March 2015 6:24 am

Ed Miliband is the only party leader whose house would be hit by Labour’s mansion tax

Publisher Desk

Publisher Desk

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Ed Miliband is apparently the only one of the three major party leaders who lives in a mansion. The Labour leader's north London home is worth a whopping £2.7m, more than triple the area's average house price, according to online property portal Zoopla.

Miliband would also be the only party leader who would be forced pay Labour's controversial mansion tax, should his party win the General Election. Labour wants a new tax on all properties valued over £2m and would spend the revenue raised on the NHS.

The Labour leader was subject to widespread ridicule for having a photo-op of him and his wife enjoying a cup of tea in what appeared to be a remarkably spartan kitchen but turned out to be the Miliband's second, much smaller kitchen. The Milibands' friend and Times journalist Jenni Russell helpfully tweeted:

The tax would disproportionately hit London and the south east. The policy's critics, which includes many Labour politicians running to succeed Boris Johnson, have dubbed the policy a "London tax".

Both David Cameron and Nick Clegg's London homes just fail to meet the threshold for the Labour's tax, valued at £1.97m and £1.89m respectively. Ukip leader Nigel Farage's home in Downe, Kent came in at substantially more modest £550,000.

Zoopla's Lawrence Hall commented:

Soulless second kitchen or not, Ed Miliband’s home is in a desirable part of London and is now worth a lot more than he paid for it before the last election. He may, however, have to put any plans for upgrading his kitchens on hold if Labour comes to power as his tax bill is likely to rise by at least £3,000 per year.

Earlier this month, property consultancy Knight Frank warned that London's reputation as hub for the world's super-rich was under threat from the mansion tax.