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