Land Value Taxation Campaign

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Land rent for public revenue

What is LVT - at length

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A new 3000 word article available as a download discusses LVT in fuller detail, beginnning with an explanation of how land value arises and what it actually is (and is not). One of its aims is to dispel the growing misconception that LVT is a wealth tax based on the selling prices of land. LVT is not a wealth tax and it is a charge on the its rental value, which is an actual or imputed revenue stream. Selling prices are of significance in so far as they are the capitalisation of the rental income that is retained by the title holder, and are thus one means amongst others of establishing rental values.

 

2015 Budget - keeping the land price bubble fed

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We note that the budget consits mostly of minor adjustments. The new scheme for "helping" first time buyers does nothing but boost the housing bubble, which we can only assume is cynically intentional. A further land price booster will also continue: the current temporary Small Business Rate Relief, which was due to end on 31 March 2013, will now continue until the 31 March 2016.

However, budgets often contain important changes buried in the small print so it is too soon to pronounce a final verdict.

 

House prices surge near Crossrail stations by up to 82%

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More land value channeled into private pockets. Article in the Guardian, with not a word about LVT as a clawback mechanism for these windfall gains at taxpayers' expense.

 

Business Rates - here we go again

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The government is launching yet another review of the Business Rate system, which is allegedly a burden on small businesses. So are rents, but that cannot be mentioned. How many studies have there been since Layfield's in 1976?

In the meantime, the Chancellor could usefully look at what a study by Cambridge Econometrics, commissioned by the Treasury found when it looked at what happened when rates were abolished altogether, which happened in the Enterprise Zones in the early 1980s.

 

What people think other people think

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Research conducted for the organisation that represents renewable energy companies, RenewableUK, taken together government surveys, suggests that people underestimate public support for wind power, putting backing at around 40% on average. When these results are combined with those from  the latest survey by the government, which shows support is at 74% for offshore wind and 68% for onshore wind farms, the conclusion must be that people are under a misapprehension about what everyone else is thinking. The same is probably true for land value taxation. In this case there is the added difficulty that many of its advocates do not properly understand it either. One of the  warning signas is when they refer to land value tax as a tax on wealth. Thus they fail to put across the case as effectively as they otherwise could.

The same thing is probably true of  a whole range of public policy issues. Link to article in Guardian.

 


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