article_snippet: Under Labour's plan, people trapped in expensive homes who have no access to savings will be protected from the charge aimed at properties worth £2million or more.
article_snippet: Shadow chancellor Ed Balls has promised to hike the levy for homes with over £10million, to ensure they make a ‘significantly bigger contribution’.
article_snippet: The £2million limit will rise in line with property prices, instead of inflation
article_snippet: ‘to ensure that more modest properties are not brought into the scope of the tax’.
article_snippet: There will also be protection for people who do not have large savings or higher earnings, but who live in an expensive home.
highlights_snippet: Levy will ratchet up to raise more on properties over £10million .
  