Lib Dems Target HNW Individuals

Danny Alexander addressed the Liberal Dem Party Conference last week and targeted the well-off warning those with wealth and large mortgages: "You can move your money off shore but you can't move your mansion".

The Lib Dems argue that richer individuals should pay more in tax and take more of the burden of the recession on their shoulders. He added that: "In this country, we tax work, effort and income too highly, and unearned wealth far too little. That's why we want a Mansion Tax. It's simple, it's fair, it's unavoidable."

By imposing extra levies on high value property the Lib Dems are promising to ensure that the wealthy who "don't play by the rules" are made to pay.

The Government does appear on course to raise an extra £4billion through tighter tax laws – this is in addition to the £2billion raised in 2011. Alexander concluded stating "The vast majority of taxpayers in the wealth bracket pay their fair share. We have this message to the small minority of wealthy people who don't play by the rules: we are coming to get you and you will pay your fair share. You can't dodge stamp duty by putting your home in an offshore company. I can announce that we will build on that success and expand its remit to the wealthiest 500,000 people in the country, those with net wealth over a million pounds.”