Cable’s comments follow Labour leader Ed Miliband’s announcement on Thursday that Labour would use an opposition debate in Parliament to push for a levy on homes worth more than £2m.
Today Cable said that Lib Dems could back the move or abstain if Miliband does not play “political games.”
Cable told Sky News today: “I’m glad they’ve seen sense, I think the Labour Party are probably playing political games but nevertheless it’s welcome that they are endorsing it.”
Asked if his party would accept Miliband’s vote challenge Cable said his party's support would depend "entirely" on how Labour worded its Commons motion.
“If it is purely a statement of support for the principle of a mansion tax I’m sure my colleagues would want to support it.
“But very often in these opposition days they can’t resist the temptation to make party political point scoring and drag in other issues like the 10p rate and if that happens I am sure we will not.
“It is up to them to be statesmanlike and sensible.”
Mr Cable also dismissed suggestions that the party would bring holiday homes and buy-to-let landlords under the mansion tax or impose a wealth levy on possessions such as jewellery and paintings.
The idea of a mansion tax was first proposed by the Lib Dems before the last election, although the Conservatives opposed the move and the policy was not adopted by the coalition.
