Housing Betrayal – a Land Value Tax solution
Victor Grayson [Housing Betrayal: Morning Star July 30th 2004] highlights the inequalities created by the burgeoning property market. In looking for fiscal measures to create just solutions, Victor talks in a rather knee jerk way about property tax. We have a property tax already! What is council tax, but an annual property tax? This has become a burden to those on fixed incomes, and is generally viewed as being iniquitous. We also have capital gains tax, which if set at the level Victor wants, would penalise more affluent working people.
I recommend those interested in this subject, read Jerry Jones’ excellent articles in recent editions of the Morning Star about land value taxation and join the Labour Land Campaign forum Land Café at http://groups.yahoo.com/group/LandCafe. Land value taxation will dampen down the massive fluctuations in land values, which are at the heart of the property boom/slump cycle. It is also a just form of revenue, which does not penalise economic development like a crude property tax, and can provide funds for socialist solutions like council housing, better pensions etc.
Labour Land Campaign