Land Value Tax will abolish council tax and business rates. TAP’s priority is low income renters & mortgagees, small businesses & self employed.
An All-Party Parliamentary Group (APPG) and the Housing, Communities and Local Government (HCLG) Select Committee are both undertaking an inquiry into land-value capture.
They will report in the autumn. We have submitted written evidence to them both and have given oral evidence to the APPG. Both have been sent a hard copy of DEBT DEATH & DEADWEIGHT, edited by Fred Harrison, who is the director of the Land Research Trust and also a director of Taxpayers Against Poverty (TAP).
Low-income tenants & mortgagees, small businesses & the low-income self-employed – the priority of Taxpayers Against Poverty
TAP has invited Professor Ted Gwartney to visit the UK in the autumn,
He is the only man in the world to have valued the land of an entire state: British Columbia. He, and a colloquium at the Royal Institute of Chartered Sureveyors, prove land-value tax is entirely feasible in the UK.
TAP is paying for his flight and London hotel because we want MPs policy makers to understand that land value tax is not only fair but entirely feasible in the UK;
We are hoping the HCLG Committee will meet him.
He is in the Resolution Foundation's forward planning but we don't yet have a date.
DEADWEIGHT LOSSES AND A SUMMARY OF THE BENEFITS OF LAND-VALUE TAX
- Land-value tax is a secure, progressive source of revenue.
- A small percentage tax on the value of all land could gradually replace inefficient and regressive taxes such as council tax, business rates and stamp duty.
- It is paid by the landlord not the tenant. It relieves low-income tenants of the council tax and its draconian enforcement.
- Exemptions can be arranged for high-asset low-income households.
- It has been found to have brought empty homes and unused land into use in Harrisburg, Pennsylvania and other US cities. It works in Denmark, Australia and Hong Kong.
- It would encourage the release of 475,000 plots of unused land, about which the House of Lords' Economic Affairs Committee has commented.
- Land cannot be transferred tax-free via the internet to an overseas bank, so taxing it in the UK might even recover a little of the trillions shipped out to tax havens by the City of London.
- It enables land owners to contribute to the common good from the unearned increase in the value of their land due to the market, so relieving both their landless tenants and themselves of the need for high-income taxes.
- A land-value tax colloquium at the Royal Institute of Chartered Surveyors in September 2015 concluded that, "... the technical issues often quoted as providing reasons not to switch to assessing land rather than property, namely valuation methodology and data, are capable of solution within the UK context."
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