Tag Archives: land value tax

Opinion: The raging south east property boom must be stopped, without harming the rest of the UK

Vince Cable speaking on the BBC’s Andrew Marr show today warned of a ‘raging housing boom’ in the South East where large parts of London could end up inhabited by only ‘foreigners and bankers’ (boroughs such as Camden, Haringey, Hammersmith and Fulham already have an average house price to earnings ratio of over 11).

One solution would be to raise interest rates making borrowing less affordable. But as Vince said today:
“The danger of raising interest rates is that you hit those parts of the country which are not yet fully recovered, you push up the exchange rate …

Posted in Op-eds | Also tagged | 30 Comments

Opinion: Why fear this tax?

Our last Manifesto included a commitment to “reform business rates, creating a fairer system where rates are based on site values rather than rental values. “Site Value Rating” (SVR – a purely local tax) had been party policy for decades but until 2010 never made it to a manifesto. The Party had never embraced a Land Value Tax (LVT) as a key part of our national economic policy.

Since the debt-fuelled property boom led to the present global financial crisis there have been statements in support of LVT from leading figures in all the other parties. Tory Planning Minister Nick …

Posted in Op-eds | 26 Comments

Opinion: Lo-Tax for the Lib Dems

landRaising the tax-free personal allowance is the Lib Dems’ headline contribution to this Government – so popular that the Tories are trying to claim it as theirs! But when Danny Alexander said that our next manifesto should include a promise to raise and peg the personal allowance to the National Minimum Wage (almost £13,000) he was setting his tax policy working group a challenge: to find £12bn a year from elsewhere.

According to the Institute for Fiscal Studies this isn’t progressive. Highest earners and others benefit, while …

Posted in Op-eds | Also tagged and | 38 Comments

Opinion: Land is theft

landIn ‘Why Wealth can’t be Taxed’ it was alleged that a mansion tax is illiberal. However, as a liberal, I am concerned for the state of the property market in the UK. The average age of the first time buyer is now 35.

Housing is a policy that has been forgotten, with health and education becoming the areas of priority. However as liberals, we can address the state of housing through taxation, for I would say that ‘land is theft’. There is too much concentration of power in the hands of the few. Land Value Taxation is a key to addressing this.

Posted in Op-eds | 34 Comments

LDVideo: Introducing the Land Value Tax

The Liberal Democrat campaign for Action on Land Tax and Economic reform has recently released a new video to explain the virtues of a Land Value Tax — described by ALTER as ‘making taxation more progressive and addressing the injustice of economic rent, it would encourage development and boost the economy. It’s the kind of measure that our country is in desperate need of right now.’

Posted in YouTube | Also tagged | 78 Comments

Housing: the IPPR’s answer

Over the last week I’ve highlighted how the Britain’s love of home ownership is not based on any evidence that high home ownership brings economic success (if anything, the opposite is true), that the proportion of people living in private rented accommodation is on a long-term rise and that changes in property prices in Britain are widening rather than narrowing the huge geographic imbalances. Add to all that the increasing importance that Vince Cable and Nick Clegg, in particular, are giving to the housing market for boosting economic growth, and it is a sector clearly in need of action.

But what action?

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Opinion: Land Value Tax – an old idea with lots of modern supporters

Adam Smith in the Wealth of Nations (1776) was an early proponent of land taxes as was that great radical Tom Paine.

John Stuart Mill was an advocate and Henry George put the case in ‘Progress and Poverty’ (1879).

The economist David Ricardo gave us the concept of economic “rent” – that land or property derives its value from scarcity rather than investment.

In the debates before and after the peoples budget of 1909 both Winston Churchill and David Lloyd George argued strongly for the introduction of a land tax.

The economists John Kenneth Galbraith and Milton Friedman recommended Land Value Tax (LVT) for …

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Recent Comments

  • User Avatarpetermartin2001 24th May - 5:59pm
    " The truth of it is that there ​are things we can win in the European Union, but we will not win them by removing...
  • User AvatarRichard Flowers 24th May - 5:57pm
    @Michael BG "I don’t understand why you are not advocating one of [Torry's] preferred schemes." Precisely because he pays for it by abolishing the personal...
  • User AvatarPsi 24th May - 5:55pm
    Day "Dean Moore is a student Well, that’s unsurprising" If the only comment is an Ad Hom I guess that indicates you accept the case...
  • User AvatarMichael BG 24th May - 5:30pm
    Thank you Richard Flowers for posting a link to Malcolm Torry’s paper. I don’t understand why you are not advocating one of his preferred schemes....
  • User AvatarDav 24th May - 5:28pm
    Ford's in his flivver; all's well with the world.
  • User AvatarTobie Abel 24th May - 5:10pm
    Being a student is neither here nor there, I think the argument is entirely valid. Liberalism IS about accepting someones freedom to do or say...