Australian film here.

LVT would benefit wealthy landowners, according to Liberal Democrat Richard Dean, one of the commentators on a piece in Liberal Democrat Voice. Dean has acted as main protagonist for the "antis", but his idea that LVT would help wealthy landowners suggests the workings of an original mind and comes as news to us. Can we expect a cheque in the post from Lord Marchmain at any moment? If we had enough to pay for a parliamentary lobbyist and a full blown media campaign, we could expect LVT within months.

London homebuyers pay a significant premium  to live close to a tube or train station. More land value created by the community and ending up in private pockets.

New report by Nationwide.

“Land value, if we assume land values fall from this tax what will happen to the debt lent against the property?”

The borrower will still have the revenue stream to pay off the debt, provided that the switch from present taxes to mostly-LVT is phased over a few years.

” ie when the landowner come to refinance he may find as the debt has previously been lent using the property as collateral that the banks may see land now as a liability therefore will either lend less or not at all, how will the ensuing international banking crisis be dealt with?”

The banks will no longer give credit for land purchase as this will be unnecessary. Any credit they give will be subject to their assessment of the ability of the borrower to repay. It can still be secured on the value of the buildings, machinery, plant and stock for which the credit was given.

“Will banks ever lend on property in the uk again?”

They will lend on building value only. They will never lend on land purchase again, as this will no longer be necessary. Those wanting to use land, ie everyone, will pay what is in effect a perpetual rent to the government, in return for which they now longer have to pay taxes on their labour, or on goods and services. Thereby putting a stop to credit-fuelled land price booms and busts.

Bring it on.

IS THERE GOLD IN THEM THERE MOUNTAINS OF DEBT?

Immediately following the Queen’s speech our two intrepid heroes set off on their quest to find growth – the vital ingredient necessary for a successful and prosperous economy. Growth, it is said, is the missing link between bankruptcy and prosperity. It had not been seen or heard of for ten years or so, and the people’s patience with politicians’ promises was running thin.

Dave and Nick were mates with a mission - they were determined to achieve the impossible, to put new life into old, worn out, second-rate policies and come up smelling of roses.