Thursday, May 10, 2012
It’s a no brainer
Politic support for LVT to replace council tax: How much money can it raise? Levied at a flat rate of between 0.5 per cent or 0.6 per cent it has the potential, based on the current value of land in the United Kingdom, which accounts for 38 per cent of our wealth, to raise between Â£30 billion and Â£35 billion. Thatâ€™s enough to replace the council tax while also giving a tax cut to all those living in properties worth less than Â£350,000-Â£400,000.