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Page last updated at 10:49 GMT, Friday, 24 February 2012

'Strong argument' for property tax

The clamour for tax cuts to stimulate the economy has gathered steam this week, a full month ahead of the Budget. But could extra taxes on high-value property be used to pay for them?

While a the Liberal Democrats' favoured Mansion Tax policy is unlikely to be included in the Budget, says Political Editor Nick Robinson, the Treasury is considering measures to curb stamp duty avoidance.

Stephen Greenhalgh, leader of Hammersmith and Fulham Council, told John Humphrys he would be "dead against" a tax on £1m or £2m houses, which would "clobber people on relatively modest incomes".

But Conservative MP Mark Reckless said said that there was "strong argument" for shifting the balance of taxation for higher earners from income tax to taxes on property.

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