# Mansion tax threshold stays at £2m, Healey decides

> The Chancellor rejects lowering the mansion tax threshold to £1.5m, keeping the levy at £2m to protect public support ahead of its April 2028 launch.
- Title: Mansion tax threshold stays at £2m, Healey decides | Shortify
- Summary: The Chancellor rejects lowering the mansion tax threshold to £1.5m, keeping the levy at £2m to protect public support ahead of its April 2028 launch…
- Keywords: mansion tax, john healey, labour government, property tax, budget 2026, kemi badenoch, conservatives, uk housing, politics, news, Mansion, tax
- Source: The Independent — https://independent.co.uk/news/uk/politics/mansion-tax-budget-2026-property-housing-b3067894.html
- Published: 2026-10-16T08:12:23+00:00
- Read time: 1 min
- Topics: mansion tax, john healey, labour government, property tax, budget 2026, kemi badenoch, conservatives, uk housing, politics, news
## Mansion tax threshold held at £2m
Chancellor John Healey has rejected proposals to lower the mansion tax threshold to £1.5m, according to sources who spoke to The Times. He believes changing the rules before April 2028 would risk undermining public support.
## How many homes would be affected
Lowering the threshold to £1.5m would have increased the number of homes hit by the new tax from 134,000 to 271,000.
## Conservatives promise to scrap the tax
Conservative leader Kemi Badenoch has promised to abolish the mansion tax on properties in England and allow couples to leave behind an additional £1 million tax-free. She made the pledge at the Conservative Party Conference.

> The Conservatives are and always have been the party of home ownership.
## Healey faces pressure to raise funds
The Chancellor is facing growing pressure to raise taxes or cut spending at next month's Budget.Soaring borrowing costs because of the Iran war and weaker growth have wiped nearly billions off the government's fiscal headroom.
## IMF upgrades UK growth forecast
The International Monetary Fund has upgraded its UK economic forecast, saying artificial intelligence is driving growth.The IMF now expects UK GDP to grow by 1.3 per cent in 2026, up 0.
## Key takeaway

Chancellor John Healey has rejected proposals to lower the mansion tax threshold from £2m to £1.5m, citing concerns about undermining public support for the reform before it begins in April 2028.