WE CANNOT GO ON AS WE ARE! Land the source of immense unearned wealth growing at one end of UK population while number of people hungry, homelessness, rough sleeping & ill grows at the other
WE CANOT GO ON AS WE ARE!
I have been describing the depth of poverty in United Kingdom to national leadership since the poll tax. We cannot go as we are with the rich getting ever richer and people imoverished by the state getting ever sicker. I will be writing about the universal basic income grounded in the strongest argument for it, which is the diminishing health of the poorest citizens owing to shredded benefit incomes hit by council tax and increasing rents, and also about the land value tax, the lack of which is contributing to the continuing tax free increases in the wealth of the richest and placing disproportionate taxes on the incomes if the rest of us.
These are the arguments in favour of land value tax.
- The failure of the Treasury to measure or publish the dead weight losses of the present system of taxation leaves the public in the dark about the costs of the present income tax regime.
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 like 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 bring 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 four big UK builders to release their bank of 600,000 plots of unused land.
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 the landless tenants and themselves of the need for high taxes on income.
An LVT 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"
The contents of this book are published on line. You can find the index here.
See also ten blogs on affordable housing and nine blogs on the health equalities.
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