John Swinney urged to back 'mansion tax' by Scottish Greens as Budget talks hot up

dailyrecord.co.uk:

SNP First Minister John Swinney has been urged to introduce a “mansion tax” on homes worth £1m or more. The Scottish Greens are demanding a super tax is slapped on the purchase of high-end houses.Party MSP Ross Greer said: “A mansion tax on the biggest and most luxurious houses is one of many ways we can raise more money to support services like the NHS while only impacting the very wealthiest people.”The Greens were brutally dumped from Government this year by Humza Yousaf after three years of tension.

But Swinney needs another party to cooperate on his minority Government’s Budget and the Greens have emerged as likely kingmakers.One idea for raising more cash for public services is an overhaul of Land and Buildings Transactions Tax, the Scottish equivalent of stamp duty.The current system ensures nothing is paid on house purchases up to £145,000 with different bands of progressive tax rates then kicking in.

At the top end, 10 per cent if levied on the part of the sale between £325,001 and £750,000, with 12 per cent applying to anything over £750,000.According to the Green plan, the 12 per cent rate would start at £650,000 and a new £15% rate would begin at £1m.Greer said: “14 years of Tory cuts have left Scotland’s budget in a dire state.

Sadly, the new Labour government shows every sign of going further and deeper with their own cuts to public services. We must use every tool available to us here in Scotland to protect people and planet from the damage these budget cuts would do.“There is more than enough wealth in Scotland to end child poverty tomorrow, but far too much of it is in the hands of a very small number of extremely rich people and big companies.