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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."