The debate over the proposed wealth tax in Britain has heated up. A prominent Labour policy adviser, an outspoken champion of the idea, could join Mayor Andy Burnham’s economic team. Burnham has urged a wealth tax to fund the removal of green levies on energy bills. In addition, separate coverage examines Burnham’s possible effect on housing as Britain faces a crisis.
Across the Atlantic, new U.S. real-estate activity signals a resurgence in ultra-luxury demand. Two homes in San Francisco’s Presidio Heights have been listed above $10 million, highlighting renewed new highs at the top end of the market.