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Ash4781

Beyond Mansion Tax?

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The report further recommends the establishment of a Royal Commission to consider the appropriate balance of taxes on property and the issue of "unearned economic rents on land". It concludes that a reformed system of UK property taxation that is both effective and fair should have wide appeal among the electorate.

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It looks like that report was timed to coincide with a Labour win or coalition which didn't happen, and attempt to stomp on a potential mansion tax.

(So this is the report the Tory press would be using to attack the mansion tax had a Lab/SNP/Lib coalition won).

It's funny that they prefer to use the phrase 'economic rent on land' instead of "land value tax" which is what they are describing (unless I am mistaken).

Also they go into the depths of discussion about the unfairness of mansion tax, but neglect to mention ways a land value tax can also be 'unfair' (if someone moves to a low-land-value area and it becomes high-land-value later etc.)

i.e. it is a deep drive against mansion tax but a shallow argument for LVT.

Also, they mention that Mansion tax was devised to be easy to calculate by not needing to value most properties under the £2m threshold, yet they don't mention that LVT would need require the valuation of all owned land in the UK, on an ongoing basis.

Personally I'm not sure I think LVT is as 'fair' as Multiple Property Tax, but it seems no 'policy think-tanks' agree with me on this.

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Also they go into the depths of discussion about the unfairness of mansion tax, but neglect to mention ways a land value tax can also be 'unfair' (if someone moves to a low-land-value area and it becomes high-land-value later etc.)

Because there are no ways in which a LVT is unfair.

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