The UK could be at risk of a holiday home tax like that announced by the Spanish Prime Minister amid its housing affordability crisis.

Both UK residents and tourists from overseas would be obliged to pay the new tax. Prominent UK hotelier, Sir Rocco Forte, has voiced his concerns about the introduction of the tax, stating: "Travel and tourism is one of the most vital parts of the UK's economy, contributing over £250billion a year to the UK's GDP and supporting 3.5million jobs."

Much of Europe faces housing shortages, but Spain’s is especially acute. It is not just rents: 75% of Spaniards own property, but for young people the prospect of a first-time buy is receding into middle age.

This move is part of Spain's strategy to address its housing crisis. María Ramírez, deputy managing editor of Spanish news outlet elDiario.es. She told The Guardian: "The policy

Spain is planning to impose a tax of up to 100% on properties purchased by non-residents from countries outside the European Union, such as the United Kingdom. Prime Minister Pedro Sánchez announced this "unprecedented" measure as part of a broader strategy to address the nation's housing crisis and improve affordability.