Thursday, Mar 18, 2010
Land use, scientific evidence
Foresight: Land Use Futures - scientific evidence
Evidence for LVT
"There is a strong case for decisions about land use – at all levels, and across different land use sectors – to reflect a much broader concept of the value generated by land. Only then will the greatest benefits be unlocked, and tensions effectively managed."
"This process itself may need to be part of a deliberative process of arbitration over particular decisions, but could be facilitated by a general review of taxes and subsidies or payment schemes."
"The guiding principle for a more coherent approach would be to combine a more sophisticated understanding of how land creates value for society with governance which more proactively incentivises achievement of better value and the delivery of a wide range of sustainable and valued land services."
2 Comments
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1. mark wadsworth said...
That was another thought experiment of mine - we could have a capitalist version of Georgism, where on a set date, all land and property in the UK is valued and given to UK Land plc in exchange for an equal and opposite number of shares to the same value. From there on, everybody rents the property he lives in, and the rental income is dished out in full as dividends in the ordinary manner, so in cash terms, nobody is better or worse off. The shares would be freely tradeable, of course. You wouldn't "get on the housing ladder", you would just buy the shares when they give a better return than any other utility and sell them when they give a lower return.
UK Land plc would then have final say over all planning decisions in the UK, and when it's deciding where to site a road or a railway or new housing, it takes a global view as to whether the overall increase in rental income in some areas exceeds possible loss in others. So it would always do its best to maximise rental value of UK as a whole - and if something you don't like gets built near you, you are compensated in full because your rent goes down, and you suffer no fall in capital value (in fact, you get a modest increase, of course).
2. powerofnow said...
"As development has mainly been concentrated in urban areas, the overall proportion of urban land has remained broadly static. Approximately 5.4% of England’s land area is in residential use: domestic buildings (i.e. the building footprint) account for 1.1% of England’s land area, with the remaining 4.3% taken up by domestic gardens."
To confirm the shockingly low level of developed land in the UK I flew over it this morning (using google earth).... it looks almost abandoned....