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The LVTC blog, by Henry Law

The comments in the LVTC Blog are a personal view of our Hon. Secretary Henry Law and do not necessarily reflect the official policy of the Campaign.

This is a place for personal observations and comments on politics, economics, current affairs, on-going discussions on the potential for LVT to remedy some of the current ills, and the impact on Society of any of the above. 

Please read and enjoy, and feel free to respond to Henry if you have any thing you would like to add.

Humbug or ignorance?

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The British Chambers of Commerce (BCC) is urging George Osborne, in his Autumn Statement on December 5, to freeze business rates for the next two years. The business group wants the government to review and reform the business rates system by 2015, with a more "responsive and transparent" system enacted early in the next parliament.

Is this humbug or pure ignorance? The BCC could say exactly the same thing about rents, since the same objections apply. Why doesn't  BCC propose a rents freeze? Or at least an end to upwards-only rent revision clauses? The UBR could do with being tidied up, but any rates cut will be absorbed by the landlords at the first rent review. There is such a wealth of evidence to show that this is what happens, that one wonders how they think they can get away with coming up with suggestions like this?


Buy land - they don't make it any more

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"Investing in British land". If people were encouraged to buy up grain when there was a famine, most people would denounce it as immoral. Double standards apply.

Crossrail windfall

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Crossrail figures estimate the price of commercial space along the line will climb 10 per cent over the next decade, above an already rising baseline projection. Read more in FT article here.

Buyers beware of Britain’s absurd property trap

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"The government's Help to Buy scheme is really helping those who wish to keep housing costly", writes Michael Wolff in this analysis in the Financial Times. Nice to see that someone is following the same line of thinking as us.

Pope Leo XIII's error

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I came across this in a blog recently. It is curious that the author should have chosen this passage from the 1891 encyclical Rerum Novarum, because it is precisely here that the document was in error, and it has set the tone of Catholic Social Teaching ever since.

432 families own half the land area of Scotland

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Imagine a feudal country where 432 families own half the land. Welcome to Scotland. This article in the Independent is about the resistance of the lairds to the proposal to break up the big estates and distribute land to small owner-occupying farmers. It is a proposal which would do nothing to address the real problem which is the private appropriation of the rent of land. Nor does it address the issue of urban land, which is orders of magnitude more valuable. In fact, it makes a solution to the problem more difficult as more people have an interest in things staying essentially as they are.

London flat snip at £68 million

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One Hyde Park - more information here. New residential properties in London are being snapped up by foreign purchasers. London is obviously a desirable location. We do not mind who buys the property or where they come from, as long as they pay the rental value of the land they were standing on. As we have always argued, it would give a solid source of revenue for the British exchequer and make it possible to get rid of the taxes which continue to cripple the economy and lock large numbers of people into poverty.

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