Wednesday, 3 January 2018



THE FIX: GIVE EVERYONE £40 P.A. TO HELP PAY THE NEW LAND VALUE TAX

What’s wrong with abolishing Stamp Duty completely in one fell swoop, and replacing it with a simple mini-LVT based on the value of the plot your house stands on?

Sunday, 31 December 2017

HOW MUCH WILL I PAY? THE COST OF THE MINI-LVT TO HOME-OWNERS

So the bargain is this: Next time you buy a house, you won’t pay Stamp Duty. Instead there will be a much smaller annual charge based on the value of the plot. 

A rate of one-third of one percent (0.3%) of the Land Value would do the trick. This would keep the same amount of tax revenue for the Chancellor, eventually, after a few years.  

Well, not quite, but this is a dynamic tax geared to rising land prices. And don’t forget the good part of this switch—getting rid of Stamp Duty on house purchases, probably the worst tax there is, certainly one of the most hated.

But what about its replacement? Here’s what mini-LVT looks like for average-priced houses in different parts of England:

Area
Average £price of house
Implied LV
Proposed annual LVT at 0.3%
Old £SDLT (1-off)
Cluster*
150,000
30,000
£90
500
East Anglia
220,000
100,000
£300
1,900
South West
230,000
110,000
£330
2,300
South East
350,000
230,000
£690
7,500
London
500,000
380,000
£1,140
15,000





*‘cluster’ means everywhere outside London and the Home Counties

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.