Land Value Taxation Campaign

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Land rent for public revenue

Experts are sometimes worth listening to

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 "Macroeconomics is in a state of great confusion. The profession is deeply divided. Far from there being a body of knowledge which is generally accepted, almost every position is extremely contentious. Public discussion of economics has no coherent rationale, and governments, notwithstanding their emphatic rhetoric, cannot give a credible explanation of how it is that their policies fail to achieve the results they seek."

Wynne Godley, Professor of Economics, University of Cambridge, writing in the Financial Times in 1983.

 

 

Eurofail #1 - VAT

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The EU began as a noble concept. Unfortunately, it has consistently got the economics wrong, thereby sowing the seeds of its ultimate disintegration. The EU gave us VAT, CAP, a tariff wall and expensive food. It would be difficult to conceive of a worse combination, apart from capping them with a common currency. Bearing in mind that all taxes apart from LVT amplify the effects of locational disadvantage, it is not surprising that support for Brexit came from the country's margins, not excluding parts of the South-East. This is not to suggest that those who voted to leave were making a reasoned and calculated choice. At that level it was a gut reaction, with nasty overtones. However, if one neglects one's back garden, weeds will grow. Some, such as knotweed, can undermine a house. The UK has neglected its fringes for many decades.

The first of the ugly sisters is VAT.

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Brexit Dividend

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Election map
The theory of economics from which we work is founded on a geographical model. We are particularly interested in margins, because that is where people are forced to make critical decisions, above all, whether or not to engage in economic activity.

It is at the margin that existing tax systems and other economic burdens have most effect. Locations that could support economic activity in the absence of tax become sub-marginal and fall into disuse when a burden of tax is imposed. This is most likely to happen in places distant from the main centres of population and with poor infrastructure. Thus the map of Brexiters and Bremainers is of particular interest as it is also a map of marginal locations.

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What is government for?

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In the aftermath of the referendum, it does no harm to take a step back from the present febrile mood. Conveniently, there was this piece asking "What are governments for?

I came across this about forty years ago.

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What our view on Brexit was

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These factors were obviously not uppermost in the minds of most of those who voted "leave", but before the referendum we pointed out that EU has in practice applied policies which are entirely against the principles we are promoting.

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