UK’s outdated property taxes favour the wealthy, says OECD

An increase could mean lower income tax and and also help young people on to the property ladder

Britain's property taxes are outdated and favour a wealthy elite, according to a comparison with other countries carried out by the Organisation of Economic Cooperation and Development (OECD).

The report found that surging property prices across the OECD's 38 member states were a cause for concern and should be restricted by more punishing property taxes.