Labour Party Leader Ed Miliband has vowed to impose more punitive council tax charges on ‘ghost homes' owned by property speculators and overseas investors.

Launching Labour's local elections campaign in London yesterday, Mr Miliband pledged to close loopholes which allow absentee owners to evade the council tax premium on empty homes by placing a few items of furniture in homes.

‘We've got to stop this phenomenon of empty properties being bought by overseas investors and nothing done about it,' said Mr Miliband.