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