Tuesday, 12 December 2017

 land value tax faces large political obstacles

So says a new publication from Civitas, an independent UK think-tank. This statement of the bleedin obvious comes at the end of very good chapter extolling the virtues of LVT. So whats their answer to overcoming political obstacles?
Hand over development rights to Local Authorities:
remove from landowners their ability to withhold land in pursuit of more favourable circumstances and a higher sale price at some point in the future. This could be achieved by enabling the public sector to purchase land that is designated for new housing at close to its existing use value 
 Pure funk! If we cant do the right thing then lets try some cack-handed largely untried Scheme instead!

Thursday, 30 November 2017

IT'S TRUE. BUILDING MORE HOUSES WON'T BRING DOWN PRICES ANYTIME SOON.

So says Oxford Economics, ‘Forecasting UK house prices and home ownership’, November 2016
Here's what they say:

Sunday, 26 November 2017

BRILLIANT ARTICLE IN THE IRISH TIMES!
How Japan i
ntroduced LVT and won!

Want to fix the housing crisis? Tax land. Ireland needs to follow radical example of Japan’s 19th-century ‘Meiji Restoration’

In 1860 Japan was isolated, feudal and weak. It was an obvious next commercial target for avaricious westerners. If India and China could be enfeebled by imperialists, what chance had remote Japan?

But Japan didn’t go the way of China. By 1900 Japan had become the most advanced independent nation in Asia. By 1905 it was trouncing the Russians on the battlefield. How?

Monday, 20 November 2017

STAMP DUTY BLOCKING 45,000 PROPERTY PURCHASES A YEAR
but only if Stamp Duty completely abolished!
Switch it to a mini-LVT and it would work

Sunday, 5 November 2017

ABOLISH DEATH DUTIES and replace (some of?) them with LVT revised
What a wicked idea! Abolish Death Duties, officially called InHeritance Tax—IHT. By definition, dead people have no more use for their wealth. If you are lucky enough to inherit wealth, you got to admit that you’ve done nothing to earn it.

Thursday, 19 October 2017

INDUSTRIAL CAPITALISM WILTS WHILE THE 1% RENTIER ECONOMY FLOURISHES

Michael Hudson writes a long but very well argued piece (19 Oct 2017) on this topic "Socialism, Land and Banking: 2017 compared to 1917" He says
  • " the world has un-taxed land rent and is still grappling with the problem of how to keep housing affordable. Instead it is siphoned off rent to a landlord class – more recently transmuted into mortgage interest paid to banks by owners who pledge the rental value for loans. Most bank lending today is for real estate mortgages. The effect is to bid up land prices toward the point where the entire rental value is paid as interest.
and   the only way to save society from the financial power [is] a policy of          
  •             nationalizing natural resources,
  •             fully taxing land rent
  •             and [nationalising] infrastructure and other key sectors.
Note the need to fully tax Land Rent.

You can read the full article here (wonkish and marxist!)
http://thesaker.is/socialism-land-and-banking-2017-compared-to-1917/



Tuesday, 17 October 2017

HOUSE PRICES MUST FALL!

No amount of tinkering with the housing market — help-to-buy, build on the Green Belt, more Social Housing—will fix it. Only a really good lasting crash down in the prices of houses will work. Only when we have permanently lower house prices will young people be able to get on ‘the housing ladder’ as it is quaintly called. Only when houses get a lot cheaper will they become ‘affordable’ to use the weasel-words of housing policy wonks and politicians.