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Shadow Chancellor Supports Lvt

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On the plus side Labour's new shadow chancellor, John McDonnell, is a member of the Labour Land Campaign (LLC), and has been for some time. LLC was set up to promote land value tax, more equitable distribution of the land and so on.

So that should help get LVT onto the agenda.

On the down side, bookies have him odds on favourite to be the first of the shadow cabinet to resign/be sacked.

But, for now, 'Go McDonnell, go!'

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Posted elsewhere but as you've made a thread of it.

Bring in Land Value Tax to replace Council Tax

John McDonnell, March 2007

As part of my platform for the Labour leadership, I'm advocating the replacement of Council Tax and business rates with a Land Value Tax. This is something long campaigned for by the Labour Land Campaign.

We all know that council tax is a regressive tax, with those in Band H paying only three times as much as those in Band A. Rises in Council Tax are therefore hitting the poorest hardest. There is also £1.8bn in unclaimed Council Tax benefit.

Last week the Lyons Review published a report into the Council Tax review, which recommended that the large homes of the super-rich should be charged double what they are currently paying to allow for a rebate of £150 per year for the poorest. This was immediately rejected out of hand by Gordon Brown's Treasury. As David Hencke writes in the Guardian: "The man who would be prime minister threw away an opportunity for a real change that would have hit the rich and helped the poor".

A Land Value Tax (LVT) would simplify matters and accords with our sense of justice. Land is a gift of nature and its value rises according to the social and economic environment to which all of us contribute - yet only landowners benefit. For example land values in East London have risen due to the Olympics, yet it is the investment of public money that has enabled the Olympics to take place and for land values to rise. A tax on land values will return some of this unearned wealth to the community and the income used to reduce or replace regressive taxes such as council tax.

LVT is fair, transparent, impossible to avoid (you can't store land in an offshore tax haven), simple to collect, and would help tackle the growing inequality of wealth. It also encourages efficient use of land in towns and cities for jobs, affordable homes and leisure and thus avoid urban sprawl.

In 1906, Keir Hardie said "The slums remain, overcrowding continues whilst the land goes to waste. Shopkeepers and traders are overburdened with rates and taxation whilst the increasing land values that should relieve the ratepayer go to people who have not earned them". 100 years later we have an opportunity to make LVT a reality.

If that's what batshit mental involves, then bring on the batshit mentalists.

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There are so many people with nothing or little to lose that Corbyn might just have a chance. My girlfriend who has never voted or has any interest in voting actually said to me tonight that she is going to vote next time for Corbyn, I am assuming there are many like her.

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Can anyone tell me what a LVT would look like in practice?

What would it raise, how would it be calculated, what taxes would it replace, who would win, who would lose?

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Can anyone tell me what a LVT would look like in practice?

What would it raise, how would it be calculated, what taxes would it replace, who would win, who would lose?

http://kaalvtn.blogspot.co.uk/p/valuations-and-potential-lvt-receipts.html

http://kaalvtn.blogspot.co.uk/p/the-transition.html

http://kaalvtn.blogspot.co.uk/p/tax-calculator.html

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Can anyone tell me what a LVT would look like in practice?

What would it raise, how would it be calculated, what taxes would it replace, who would win, who would lose?

Like all tax régimes it's an arbitrary construct, so there are various ways it could be implemented.

If you want to know the LLC's take on it, then there are some videos in the LLC link given in the OP.

The basic idea is good because it drives land into productive use therefore leading to a better (as in more productive) allocation of capital. I think the proposal here is to replace at least council tax and rates.

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There are so many people with nothing or little to lose that Corbyn might just have a chance. My girlfriend who has never voted or has any interest in voting actually said to me tonight that she is going to vote next time for Corbyn, I am assuming there are many like her.

I think the mainstream are scared, which is why we are seeing such hysteria in the press right now. Let's face it, there hasn't really been a lot to choose between the parties on any of the big issues for decades now, and a resurgent left could really put the cat amongst the pigeons. Less than half of 18-34 years olds voted at the last election. If this lot start to get interested in politics and they can get that vote up then things could get interesting, and there is little doubt that this Labour would be happy to ally with the SNP and would probably get most of the green and a good chunk of UKIP voters back as well.

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Unfortunately, when good ideas are associated with idiots (and McDonnell makes Corbyn and his defeated rivals all look statesmanlike), it tends to discredit, or at least weaken, the ideas. So this could be a setback for any chances of an LVT.

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I think the mainstream are scared, which is why we are seeing such hysteria in the press right now.

+1 It's hard otherwise to explain why the Tory press is so anti Corbyn- after all if he really is poison for the labour party why not welcome him with open arms?

The entire Tory strategy is based on the doctrine of TINA- There Is No Alternative.

Perhaps now there is?

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What a turnaround for LieMore, this is good stuff. They were getting worried about these guys in the Bloomberg NY studios today, a couple of the presenters actually looked shocked when the London link listed some of the policies :lol: They managed to slip in "links to terrorist groups" about Corbyn though, which is ominous?

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"They managed to slip in "links to terrorist groups" about Corbyn though, which is ominous?"

Maybe Cameron will need an updated kill list ?

Given that Corbyn is a pacifist, and that US corporate interests have got us into several wars its rather ironic isn't it that they are implicating him of being a terrorist !

Joking aside, the US was quite happy to try to kidnap Chavez or take direct action in all manner of other countries when their corporate cronyism was challenged.

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"They managed to slip in "links to terrorist groups" about Corbyn though, which is ominous?"

Maybe Cameron will need an updated kill list ?

Given that Corbyn is a pacifist, and that US corporate interests have got us into several wars its rather ironic isn't it that they are implicating him of being a terrorist !

Joking aside, the US was quite happy to try to kidnap Chavez or take direct action in all manner of other countries when their corporate cronyism was challenged.

http://www.dailymail.co.uk/news/article-3233211/Making-Comrade-Corbyn-QUENTIN-LETTS-explains-Labour-leader-went-prep-school-boy-raised-manor-house-rich-bashing-friend-terrorists.html

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Unfortunately, when good ideas are associated with idiots (and McDonnell makes Corbyn and his defeated rivals all look statesmanlike), it tends to discredit, or at least weaken, the ideas. So this could be a setback for any chances of an LVT.

60% own or pay a mortgage and many others dream of hpi riches, so chances are slim to none for the time being and would be better initiated at the bottom of a cycle anyway. But 3 or 4 opposition parties that claim to support it it may at least help switch the housing debate from nonsense to real factors. Shame that all but a tiny minority of Conservatives get away with pro-business, pro-rentier bullsh!t packaged as pro-market, working-people headlines.

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Watching the political theatre to come could only possibly be equalled by observing multiple volte-faces by current and previous HPC reactionaries forced to swallow the bitter, bitter medicine of hardcore socialism and anti-capitalism with their LVT and anti-banksterism.

Double-popcorn for me but I'll be ready with a forum-heimlich for anyone that appears to be seriously choking on it.

LOL!

Happy Days!

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Watching the political theatre to come could only possibly be equalled by observing multiple volte-faces by current and previous HPC reactionaries forced to swallow the bitter, bitter medicine of hardcore socialism and anti-capitalism with their LVT and anti-banksterism.

Double-popcorn for me but I'll be ready with a forum-heimlich for anyone that appears to be seriously choking on it.

LOL!

Happy Days!

Well given the socialism and anti-capitalism we've already had suffer under the so called "free market" tories and "progressive" new labour, I'll happily take a bit more on the chin if means having access to resonably priced property.

Edited by goldbug9999

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Labour advocated aa much higher minimum wage

Tories gave us a much higher minimum wage

Labour advocated we get rid of non dom status

Tories got rid of non dom status

Just sayin'

Edited by Si1

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Watching the political theatre to come could only possibly be equalled by observing multiple volte-faces by current and previous HPC reactionaries forced to swallow the bitter, bitter medicine of hardcore socialism and anti-capitalism with their LVT and anti-banksterism.

Double-popcorn for me but I'll be ready with a forum-heimlich for anyone that appears to be seriously choking on it.

LOL!

Happy Days!

I'd take hardcore socialism and anti-capitalism with LVT if it does anything to flip the opportunity game of life. I'd probably take them without LVT if it reflected an era of prioritising the young, less well off and returns to labour over rent-seeking generally. Assuming it doesn't just remain all political theatre.

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I'd take hardcore socialism and anti-capitalism with LVT if it does anything to flip the opportunity game of life.

Why not just seize property from the landowners in a revolution. Property is theft after all?

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Why not just seize property from the landowners in a revolution. Property is theft after all?

You mean like the theft of seizing wages earned by producers to give to landowners?

Property isn't necessarily theft but property rights are guaranteed by the State and a big stick, not fairy magic - so that should demand compensation from those benefitting to those not. Unlike now which is the other way round. But if you want to explain your role in producing the land that leads to some ordained right then I'm all ears.

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