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Clegg Defends Lib Dem Mansion Tax

Wednesday 20th February 2013

Nick Clegg has defended Liberal Democrat plans for a so called mansion tax on properties worth more than 2million.

nick clegg 25febDuring his weekly phone in on LBC 97.3, John in St Johns' Wood called to say his home is now worth 5m and is worried he couldn't cope.

The Deputy Prime Minister says no one will be forced to sell their homes.

He said: "If you were, as your children get older, to decide to sell your home, you'd be millions of pounds better off as you've got a small mortgage from 20 years ago. That is, in a sense, pure profit.

"Of course we can make sure that people who are income poor, but asset rich, are not clobbered by a mansion tax.

"If you live in 2 million house, you won't have to pay a penny extra."