Tories rule out mansion and wealth taxes

The Prime Minister David Cameron and Chancellor George Osborne have ruled out introducing a wealth tax on high earners or an annual levy on expensive properties - two proposals central to the Liberal Democrats' plans.

As the Tories begins its annual party conference in Birmingham, Cameron said his party would not impose a new tax on expensive properties, though he did say there would be "further action to ensure rich people pay their fair share". Speaking on the BBC's Andrew Marr Show, Cameron said an annual tax on property "is not going to happen". The Liberal Democrats have said they will only sign up to fresh austerity measures if there are extra levies on the rich. Meanwhile, George Osborne has described demands for a wealth tax as "the politics of resentment". Speaking in an interview wi...