Tag Archives: land value tax

Funding Social Care costs

Andrew Dilnot, the economist who reviewed social care for the coalition government has described the social care system as a classic example of market failure  where the private sector cannot do what’s needed.

On the Tory plans, he said:

The changes just fail to tackle the central problem that scares most people. You are not tackling the big issue that people can’t pool their risks. There is nothing that anybody can do to pool their risk with the rest of the population, you just have to hope that you are not unlucky.

It is not providing insurance. You could easily have care costs of £300,000 each if you are a couple; you are not able to cover that extreme risk which is what we all want to do faced with anything else which we can insure. That’s the market failure and these changes do nothing to address that.

Shadow Health Secretary Norman Lamb has said:

Posted in Op-eds | Also tagged | 36 Comments

Sharing the Rents: The Economic relationship Between Humanity and Nature

alter-logo-300Action for Land Taxation and Economic Reform (ALTER) seeks to build on support for Land Value Taxation amongst Liberal Democrats and to promote and campaign for this policy as part of a more sustainable and just resource based economic system.

The ALTER fringe meeting at Brighton this year was chaired by our MEP, Catherine Bearder. Jock Coats, a former Oxford city councillor, presented a paper aimed at infusing the Liberal Democrat mission statement as set out in the “preamble to the constitution” with explicitly “geoist” principles.  The paper argues that only publicly collecting the “economic rent” from land and natural resources enables a genuine market and democracy to work together to optimally distribute economic welfare and save the planet.

The premise of the paper is that neither markets nor democracy can function properly whilst a monopolistic class, rentiers, captures so much of economic productivity. It leads to a two caste society, one of which reaps the benefits of public need and public programs through land values, while the other pays for it. “Tenants pay twice so landowners don’t have to”.

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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 …

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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 | 27 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
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