[LONDON] The London Assembly passed a motion welcoming a possible move by the government to bring in capital-gains tax on foreign investors selling a home in the city.

The motion was passed on Wednesday with 13 votes in favour and six against, according to an e-mailed statement by the 25-member assembly, whose main function is to hold London's mayor to account.

"Londoners' right to own a decent home must be put before speculative investors in London's property market," assembly member Tom Copley from the Labour Party, in opposition nationally, said in the statement. "London property is becoming a global reserve currency for people to keep their money and to make money out of London property."