Labour MPs warn against mansion tax change in Budget

Labour MPs have cautioned against a proposed mansion tax change in the upcoming Budget, arguing that lowering the threshold to £1.5 million would impact an additional 160,000 properties and potentially undermine the party's support base in London. This move could affect a significant number of homeowners, leading to concerns about political repercussions in a key constituency. The debate highlights the delicate balance policymakers must strike between tax reform and electoral considerations.