Scrap 50p to introduce a land tax

@jamesgraham Here's the argument. Would welcome your thoughts http://bit.ly/dznd8n

Thanks @daaronovitch @DavidLammy @DebMattinson for supporting land tax idea. The Surrey family would be up £110! http://bit.ly/dznd8n

RT @leftfootfwd: Scrap 50p to introduce a land tax – @wdjstraw 's Dragon's Den policy idea for @thefabians http://bit.ly/dznd8n

RT @wdjstraw: Thanks @daaronovitch @DavidLammy @DebMattinson for supporting land tax idea. The Surrey family would be up £110! http://bit.ly/dznd8n

RT @leftfootfwd: Scrap 50p to introduce a land tax – @wdjstraw 's Dragon's Den policy idea for @thefabians http://bit.ly/dznd8n

RT @leftfootfwd: Scrap 50p to introduce a land tax – @wdjstraw 's Dragon's Den policy idea for @thefabians http://bit.ly/dznd8n

shame labour never introduced an immigration tax over the last 13 years.

There are lots of good articles explaining how a land value tax would work (and, indeed, works already)- eg by Jerry Jones on the Left Economics Advisory Panel site. Interestingly, Andy Burnham, not the most left-wing candidate in the recent LP leadership election, suggested LVT. Let’s get the debate going – there is a wide and receptive audience out there!

RT @leftfootfwd: Scrap 50p to introduce a land tax – @wdjstraw 's Dragon's Den policy idea for @thefabians http://bit.ly/dznd8n

RT @wdjstraw: @jamesgraham Here's the argument. Would welcome your thoughts http://bit.ly/dznd8n

What’s wrong with a 60p top rate (apart from admitting that Geoffrey Howe got it right)?
Also, please do some homework – the ENTIRE POPULATION owns LESS than 69% of land by value – your old college owns quite a lot, the MoD, National Trust, local authorities (and the housing associations to which they have transferred housing estates), schools, British Rail’s various successor bodies, the Forestry Commission (4% of the total land area if you want to look at area instead of value), institutional investors in farmland (lesser but still massive in area terms), water companies, port authorities, property companies (not so much in area but much larger value), charities, sports clubs …. Even if you treat the Crown Estates, the Royal Park and the Duchy of Lancaster as personal belongings of the Queen although she doesn’t get a penny from them, your claim is insupportable.

Anything remotely like £400 would destroy farming. If you exclude farm land or significanctly reduce the tax rate then the numbers don’t look anything like as skewed and the potential tax revenue defaults to taxing owner occupied housing. As you so correctly write, the devil is indeed in the detail. More effort required on this one.

this was @wdjstraw o his ditch 50p rate and adopt Land Tax to @thefabians this lunchtime … @LeftFootFwd http://bit.ly/dznd8n

RT @leftfootfwd: Scrap 50p to introduce a land tax – @wdjstraw 's Dragon's Den policy idea for @thefabians http://bit.ly/dznd8n

RT @wdjstraw: @jamesgraham Here's the argument. Would welcome your thoughts http://bit.ly/dznd8n

Will, it’s great that Labour are suddenly so interested in Liberal ideas like LVT. It would have been so much better if you had stolen these ideas while you were still in government…

Just read: Scrap 50p to introduce a land tax http://dlvr.it/5yb8x

Conservatives won't like @WJDStraw's means of cutting the 50p tax band but interesting that he's raising the possibility http://j.mp/blK6ix

RT @timmontgomerie: Conservatives won't like @WJDStraw's means of cutting the 50p tax band but interesting that he's raising the possibility http://j.mp/blK6ix

Am really liking @WJDStraw's idea for a 'Land Tax' to replace the top rate of income tax. Deserves further exploration. http://j.mp/blK6ix

http://bit.ly/b8ImpP Land Tax would devastate hard working farmers who need that land for their livelihood!

10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

RT @leftfootfwd: Scrap 50p to introduce a land tax – @wdjstraw 's Dragon's Den policy idea for @thefabians http://bit.ly/dznd8n

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

"Scrap 50p to introduce a land tax" http://bit.ly/cun5ct – Left Foot Forward

Will, an interesting idea.

However, isn’t Council Tax effectively some smaller skale land tax? As I understand it, you are taxed according to the price of your property. In any case, it is right that those with the broadest shoulders should bear their fair share in some form.

It’s an interesting idea to debate, though.

BTW, as it’s my first opportunity, can I just say that I think you did well on ‘Any Questions’? Can you post about it and give us a link at some stage in the next few days?

I have to say I also caught ‘Any Answers?’ after and I think the Suffoc Councillor in trying to explain the ‘vertual council’ reverted to type.

But, as I say I think both you and Dugless Alexander did well.

Scrap 50p to introduce a land tax | Left Foot Forward: As I understand it, you are taxed according to the price of… http://bit.ly/9tUpEU

via @tweetminster "Scrap 50p to introduce a land tax" http://bit.ly/cun5ct – Left Foot Forward <- Excellent idea

RT @tweetminster: "Scrap 50p to introduce a land tax" http://bit.ly/cun5ct – Left Foot Forward

RT @tweetminster: "Scrap 50p to introduce a land tax" http://bit.ly/cun5ct – Left Foot Forward

How can we ever have equality of opportunity in this country if we don’t have measures like this?

Land taxes and inheritance taxes are the only way we can stop the ‘Haves’ lording it over the ‘Have Nots’ through sheer accident of birth.

Scrap 50p to introduce a land tax | Left Foot Forward http://bit.ly/bNQsb4

Interesting idea, would certainly be good for taxing the overly rich in a fair way however…what of farmers? Many of them are already in a bad way and this would really hurt them badly…

How many farmers do you know paying the 50p tax? This is a ridiculous idea that will destroy the countryside, not to mention fantastic bodies like the Nat.Trust, parks and Forestry Boards.

Stop living in the 18th century – what next – A window tax?

RT @tweetminster: "Scrap 50p to introduce a land tax" http://bit.ly/cun5ct – Left Foot Forward

[...] in the UK, the Land Value Tax seems to be getting some support in the mainstream (via Left Foot Forward), some 30 years after the [...]

Why attempt to innovate when better systems exist that can be copied? Because land ownership does not equate to income your proposals could have unwanted negative consequences. Why not simply promote the Scandinaviam model? Why not even look at simplifying our tax system to make avoidance less of a problem?

Yes lets all share out the land so we can have a little plot each to provide subsistance agriculture. No need for farmers to own land we can all do it.

Anyway why make extra taxs for land and not other assets? Land only produces an average return of 2.5% so it is hardly a great money spinner. Taxing it in addition to other taxes would wipe out all income and make agriculture uneconomic. You are bonkers.

If you know your Georgian economics the reason for a land tax was to force lanowners to sell land for development and had the undeveloped mass of America in mind. More logic would be a ‘planning gain supplement’ but labour decided this was to complex because it is.

£400 is way over the average income for a hectare!!!!!

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

Actually I think your picture of Chatsworth is deceptive. This tax could not and would not be paid by farmers/landowners it would be paid by the middle class homeowners. Agricultural land does not produce an income worthy of taxing, (unless you are just wishing to do a Zimbabwe and decide farmers should not own land) so it would fall on urban land. If you tax urban land it would either be passed on in rent or directly. Either way people have to realise there is not ‘free’ pot of money, from landowners or others to solve the public deficit.

LTV is an interesting idea but… details, details.

One of the effects is that it incentivises the intensive use of land – this has upsides (eg. encourages the release of ‘banked’ land by housebuilders, reuse of urban plots etc) but also downsides (penalises land that is economically less productive such as extensive agriculture/stockholding, woodland, nature reserves etc)

I’m intrigued by how a household with a combined income of £40k came by an acre of land in Surrey mind. Pensioners I suppose.

Regards
Luke

That doesn’t make sense. Homeowners don’t make money from the land they own, indeed it costs them if they have a mortgage. To tax land would have negative consequences for conservation and agriculture and isn’t related to income or ability to pay.

@hopisen LVT is a fairer way to raise taxes as it's where most wealth is locked up, Will Straw agrees: http://bit.ly/blK6ix

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

@Simon, Householders do make money from the land they own. In fact they generally buy a house and land so that it is as close to their job as they can afford to be. If I can buy a house on a plot of land within walking distance of my workplace, I can keep a lot more of my wage than if I buy a house on land that requires an hour’s commute by car, bus or train at vast cost. So homeowners like me absolutely do make money out of our homes. The price of land (and hence the level of LVT) is very much determined by the number of paying jobs in the vicinity of the land. And the better paid those jobs are, the higher the price of the land will be. That’s why LVT is very much related to income. Sure the price of the house depends on how fancy it is. But the price of the land the house is built on depends on the level of wages for jobs close by. And that’s what LVT is based on.

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

RT @davidwearing: 10% of households own more wealth than the rest put together, and 0.3% of UK population owns 69% of its land http://bit.ly/blK6ix

@jamesdadd Land tax – http://www.leftfootforward.org/2010/09/scrap-50p-to-introduce-a-land-tax/

RT @benjohnbarnes Land tax – http://www.leftfootforward.org/2010/09/scrap-50p-to-introduce-a-land-tax/

@radeeboi I'd put up tax to cover it though Love the idea of a land tax: http://bit.ly/diuKLX