The Liberal Democrats have unveiled proposals to introduce new council tax bands as a levy on the highest value properties.
Danny Alexander, chief secretary to the treasury, announced the policy during his speech to the party’s autumn conference in Glasgow .
He said the new bands, which would be on top of the current bands, would “end the outrage” that a £50 million property can currently pay the same amount in council tax as a home valued at £500,000.
Mr Alexander added: “This new tax will be fair, affordable and will generate funds that will help our nation to live within its means.”
LGC asked the Liberal Democrats how much the new levy was expected to raise, but the party has not yet responded.