Thursday, March 22, 2012
Tory think-tank comes over to The Dark Side
"A truly radical budget should therefore not only call for a revaluation of the property values unrevised since 1991 and introduce a [council] tax paid in proportion to the value of property; it should also introduce a land value tax to generate extra income. These wealth taxes would have added benefits of stimulating land and property markets, as well as addressing jarring social inequalities. In this context, it is worth being reminded that nearly 70% of the land in the UK is currently owned by 0.6% of population"