"We recognise that it is important that any mansion tax should be designed to overcome issues affecting those who may be capital rich but income poor. There are many ways in which this could be done, such as deferring the charge for some people, and our Treasury team is consulting on the best way to do this. We will ensure that the details are right so people would not be thrown out of their homes."
And £2m doesn't go very far these days in London. How will a property ever sell between £2m and say £3m? If you own one, it's now only worth £1.99m. And then all properties currently valued just under £2m are going to look poor value compared to the ones being discounted to compete with them. So those properties will have to be discounted as well.... right the way to the bottom of the market. Negative equity anyone?
"We will ensure that the details are right so people would not be thrown out of their homes." I think we have a right to know those details before we are asked to vote on whether Labour should be allowed to run this country again.
I say again. Don't penalise job creators. Encourage them to take risks to create more jobs!