Cui Bono?

Saturday, 03 July 2010 08:52
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These car ferries are free. They must cost a fortune to run. To whose benefit? Answer must be not more than one word long. Fortunately some of the value is captured by LVT but not as much as might be. The trouble is that other taxes are so high that they cut heavily into land values. The amount that can be usefully be raised is much less than would otherwise be the case. Still, you don't often see vacant sites in city centres, so it is obviously working.
 

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