Richmond Park’s MP says there needs to be a complete reform of stamp duty and council tax.

Lib Dem Sarah Olney says a “mansion tax” on properties worth over £2 million announced by the Chancellor in the budget won’t work.

The annual charge will come on top of existing council tax, and increase depending on the property price, with four separate bands.

The Treasury says it expects the measure to apply to fewer than 1% of properties in England.