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New shadow chancellor puts mansion tax at heart of review

Shadow chancellor Chris Leslie is keen for a Labour review of pre-election policies to centre on the party’s controversial mansion tax, sources say.

Interim Labour leader Harriet Harman last week confirmed she was in the process of commissioning a broad review into the party’s surprise collapse, which saw the Conservatives secure a majority in the general election earlier this month.

A source close to Leslie told Mortgage Strategy’s sister title, Money Marketing, that the newly appointed shadow chancellor is keen to see the party’s mansion tax proposals at the core of the review.

The source said: “Chris [Leslie] thinks the mansion tax is ripe for revisiting.”

The policy has previously proved controversial within the party, with Lord Mandelson describing the plan to tax properties worth more than £2m as “crude”.

Nonetheless, it formed a critical plank of the party’s election campaign, with former shadow chancellor Ed Balls insisting it would come into force from day one of a Labour government.

However, the policy is highly unlikely to come into effect now that there is a Conservative majority government.

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