Nick Clegg says Tories are blocking tax on big houses However, the Deputy Prime Minister insisted he would continue to push for more taxes on "unearned wealth." "Very, very high-value properties are taxed in exactly the same way at the moment as properties which are a fraction of their value - so a £10 million property at the moment is taxed in the same way as a £1 million property," he said. It is quite right for us - and Liberal Democrats have done this for years - to say 'Well, hang on a moment, should we be trying to look at some way to make sure that these people who own these multimillion-pound properties pay their fair share?'. Mr Clegg was giving a speech on "responsible capitalism" at Mansion House, proposing that employees should be given more opportunity to own shares in the companies they work for. He also played down the idea that the Queen should be given a new yacht to celebrate her Diamond Jubilee. A leaked document last night suggested that Michael Gove, the Education Secretary, had proposed this as a gift to the monarch at a cost of around £60 million. "I suspect that most people in the country would think, given that there is very little money around, that this probably would not be the top of their list of priorities for the use of scarce public resources," Mr Clegg said.