The debate over the proposed wealth tax in Britain has intensified. A prominent Labour policy adviser, a vocal champion of the idea, could be part of Mayor Andy Burnham’s economic team. Burnham has pushed for a wealth tax to support the removal of environmental levies on energy bills. Meanwhile, separate coverage examines Burnham’s possible effect on housing as Britain confronts a crisis.
Across the Atlantic, new U.S. real-estate activity signals 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.