Chancellor John Healey has ruled out lowering the threshold for the mansion tax to £1.5 million in the upcoming Budget.

City A.M., Daily Mail, Financial Times · United Kingdom

11 Oct 20263 outlets

What it means

UK Chancellor John Healey has confirmed that the government's ''—an annual levy on high-value residential properties—will not be extended to homes worth £1.5 million. The threshold remains at £2 million, ruling out a widely speculated expansion that would have hit many more homeowners in London and the South East ahead of the upcoming budget.

Accuracy & sourcesSourced

The claim is solidly reported by multiple reputable outlets (City A.M., The Times, Evening Standard) citing Healey's own statement or a Treasury announcement. The reporting sits close to the primary source, though the exact wording of Healey's ruling out hasn't been published verbatim in the snippets.

How new

Genuinely new—articles appeared within the last 24 hours (City A.M. 5 hours ago, Daily Mail 3 hours ago), following earlier speculation that a threshold cut was being considered.

Past coverage

We covered HMRC mansion tax inspectors targeting homes for property valuations in August 2026, a related enforcement aspect of the same levy.