Scottish Green MSP Ross Greer’s proposals for a ‘Mansion Tax’ on homes sold for over a million pounds have been turned down by every other political party.
Mr Greer, list MSP for this area, presented amendments to the Housing (Scotland) Bill that would add a new level to the Land and Buildings Transaction Tax for the priciest homes. This additional tax band was intended to generate extra funds for public services in need of financial support.
Currently, the top rate of the Land and Buildings Transaction Tax for residential properties is 12%, which applies to homes starting at £750,000.
Mr Greer proposed that another tax band should begin at £1 million with a starting rate of 15%.
In a parliamentary debate, he pointed to the Newliston Estate near Edinburgh—currently on sale for offers over £15 million—as an example, arguing that its buyer should pay a higher rate of tax than someone buying an £800,000 townhouse in the city.
The proposal was rejected by members of the Scottish Parliament’s Local Government and Housing Committee from the SNP, Labour, and Conservative parties.
Mr Greer said: “It is disappointing that MSPs from other parties rejected our Green proposal for a Mansion Tax.
“A higher tax on the biggest and most luxurious properties could have raised money to support public services like the NHS and schools. Only the very wealthiest people in the country, who can afford to pay more, would have been impacted.
“Scotland has enough wealth to end injustices like child poverty tomorrow, but far too much of this money is in the hands of a tiny number of super-rich people and big corporations.
“Property taxes are important to ensure the wealthiest people pay their fair share back into our public services. I hope other MSPs remember that when they next complain about cuts to public services due to a lack of money.”