Land Value Taxation Campaign

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Banking review published

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The Turner Review - a regulatory response to the banking crisis - has just been published. It is a highly technical and densely written 120 page analysis which needs to be gone through carefully. Anyone lacking the necessary background knowledge will be unable to grasp much of the detail.

All we can say about it is to point out yet again that the primary cause was a credit-fuelled land price bubble. These will always happen unless that is addressed, for example, by land value taxation - collection of the annual rental value of land for use as the principal source of public revenue. Such boom-busts based on land speculation with borrowed money have been occuring since the beginning of capitalism around 1800, at intervals of about 18 years. Which is just long enough for the defence mechanisms to be dismantled before the disasters occur.

A very long term view must be taken.


Rail link lifts property value hopes

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Channel Tunnel terminal, Cheriton

House values near the Channel tunnel rail link stations are predicted to rise by a total of £1.6bn after fast domestic services start to operate later this year.

A to Z of Tax Havens

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The United States Government Accountability Office has been investigating tax havens and found that 83 per cent of the largest US companies have tax haven/ secrecy jurisdiction subsidiaries. Following on from this, The Tax Justice Network, with the help of Alternatives Économiques in France and SOMO in the Netherlands, has just produced a new report, "Where on Earth", with information that has never been published before. The study surveyed 97 of the largest quoted companies in the UK, the Netherlands and France. Of those companies all but one had tax haven subsidiaries. 99 per cent of the European quoted companies surveyed operate in tax havens. As in the USA, the largest user of tax havens in every country surveyed was a bank.

We are not shocked or even surprised
. Through clever so-called transfer accountancy, profits can be made to disappear from places where taxes are high, and pop up where they are low. Given the present practice of taxing individuals and companies, this is precisely what anyone would expect if they gave the matter a moment's thought. What is to be done?

Financial world is taking our theories seriously

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We don't normally advertise but this trailer for investors' advice publication MoneyWeek is using the same theories as we are.

Forthcoming Investment Opportunities

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Folkestone beach The present gloomy state of the property market is a good time to take stock and ponder how best to take advantage of the investment opportunities that will start to open up as the cycle bottoms-out before the next upswing.

WARNING - landowning can damage your wealth

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Many people are now ruefully coming to accept the truth of the title of this piece. Landowning can indeed damage your wealth. But in the past, land ownership has been the route to riches for generation after generation. What went wrong?

UK needs to spend £90bn on 750,000 new jobs

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The UK should spend £90bn on 750,000 new "shovel-ready" jobs to stop the unemployment rate rising to 10pc, according to Bank of England Monetary Policy Committee (MPC) member David Blanchflower. Professor Blanchflower, the only member of the MPC to vote consistently for interest rate cuts, suggested that drastic fiscal stimulus measures were needed to prevent job losses creeping up to 3m. At a speech last night at the University of Stirling, he said that monetary policy measures were not enough and direct intervention into the labour market was needed immediately. He advised the Government to embark on large-scale job creation scheme that could begin immediately, with "particular emphasis on shovel ready projects that can be started quickly", and many public sector bodies could be given increased funding for two years. Blanchflower also advocates raising the school leaving age to 18 to keep young people out of dole queues.

We have been saying much the same thing for months -

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