Property tax would force global super-wealthy to subsidise affordable housing,say researchersThe government could raise more than £86m a year for social and affordable housing by imposing a premium property tax on luxury London homes bought by the global super-wealthy, researchers have calculated.Properties in the capital, or worth £5m or more sold for a combined £5.2bn between 2011 and 2013,with sales to uber-wealthy abroad buyers making up half that amount, according to academics from Goldsmiths, and Sheffield and York universities.
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Source: theguardian.com