00:00I think it's really important to recognise that one of the inheritances of the government last July
00:05was this massive deficit, contribution of Brexit, contribution of the pandemic
00:10and the previous government's policies, particularly around austerity.
00:13I'm a firm believer in those with the broadest shoulders carrying the greatest burden.
00:18What the government's announced today is those with properties that are revalued
00:21at more than £2 million will have to pay an additional amount in council tax.
00:25My concern has been there are Londoners who may have had a property for decades
00:29who may be, inverted commas, asset rich but cash poor.
00:34They mustn't be penalised and I'm really pleased the government's going to work with Londoners
00:38to make sure there's the right scheme that doesn't scare them and penalise them.
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