Valuing the land
Kevin Cahill (Letters, January 11) is wrong to say a land-value tax would mean an extra tax on householders, while ignoring large landowners. LVT would apply to all land and is not intended to increase the tax take, but to collect the same amount of revenue in a fairer manner. LVT encourages all landowners to make better use of our planet. It encourages efficiency and gives new incentives for enterprise and wealth creation in a sustainable and green way.
With the income from LVT and the additional growth created by LVT, a future government could abolish the regressive council tax and the discredited stamp duty, and cut income tax and VAT – a direct benefit to all householders. The 2005 Oxfordshire study showed that, with a “homestead allowance” – like a personal allowance for all households – there would be far more winners than losers, with the losers in the highest-value houses. (Plus we could stop paying subsidies to our richest landowners!)
Chair, Labour Land Campaign