UK 'pays highest property taxes'

British people pay the highest levels of property taxes in the developed world and more than twice the average for the 34 rich countries in the Organisation of Economic Co-operation and Development, according to a think-tank report.

The right-of-centre Policy Exchange said politicians should reject new levies on property - such as the "mansion tax" on residences worth over £2 million favoured by Liberal Democrats and Labour - and instead pledge to bring down housing costs by building 1.5 million new homes by the end of the decade.
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