The debate over the proposed wealth tax in Britain has heated up. A longtime Labour policy adviser, an outspoken champion of the idea, could be part of Mayor Andy Burnham’s economic team. Burnham has urged a wealth tax to support the removal of environmental levies on energy bills. In addition, separate coverage examines Burnham’s potential effect on housing as Britain faces a crisis.
Across the Atlantic, new U.S. real-estate activity suggests a bounce in ultra-luxury demand. Two homes in San Francisco’s Presidio Heights have entered the market above $10 million, highlighting renewed pricing at the top end of the market.