I watched the repeat of Question Time on BBC Parliament yesterday and two points in relation to the housing market in general and the Lib Dems’ revised proposals for a Mansion tax in particular struck me as being worth commenting on.

In response to a question about the Lib Dems’ proposed Mansion tax, Margaret Beckett, after saying she couldn’t believe the figure but would share it with us anyway, said that the Land Registry figures showed that there were only 86 properties worth over £2m.

It had to be pointed out to her that that the Land Registry figures were quoted in thousands and therefore one had to add three noughts to the figure.

It is not only pretty stupid to quote a figure on national television that you say you don’t believe, but in particular most people’s common sense would have told them that there must be more than 86 houses in the country worth more than £2m.

It is a damming indictment of this Government’s understanding of the housing market that someone who was Minister of State for Housing and Planning until as recently as 5 June this year has so little understanding of such a basic fact relating to the housing market.

The other rather amusing point was seeing Kirstie Allsop get the better of Vince Cable in the discussion on his Mansion tax.

Mortgage Strategy article by Ray Boulger

Posted 07/12/2009 15:15:46