Unlikely Land Value Tax supporters - The London Evening Standard

From today's editorial on squatters:

At the same time, however, the Government should bear in mind that there are many properties that are left needlessly empty at a time when pressure on the existing housing stock has never been greater. Taking measures to discourage owners from leaving homes unoccupied, at the same time as tightening measures against squatters, would strike the right balance.

Land Value Tax sorts out both problems; if we replaced all taxes with LVT, then very few people would be able to afford to leave buildings vacant; and if they can afford that luxury good luck to them, they are compensating society in full.

It is then only fair for the government to return the favour by booting out squatters within the hour; failing which, the freeholder will be exempt from paying the LVT on that site until they are; the squatters will themselves be liable to pay the LVT, accruing daily with interest (plus renovations costs where appropriate).

Sticks and carrots

This government is so f***ing stupid, it beggars belief.

House prices are at a dangerous all time high, and for most people, unaffordable. 83% of us are NIMBYs who don't want any more houses to be built. However, there are anything up to one million vacant homes in the UK. The government has come up with all sorts of tax breaks and wizard wheezes to try and persuade owners to bring them back into use, see here for a fascinating overview.

Tax breaks cost money; that means, all things being equal, people who don't own a vacant property (i.e. most of us) have to pay slightly more tax. Seems pretty f***ing unfair.

How about introducing Land Value Tax*, payable irrespective of whether property is in use or not? The tax stick would bring more properties back into use than the tax break carrot. And, all things being equal, the vast majority who don't own a vacant property would be paying a bit less tax.

Doesn't this seem a lot fairer?

* Click 'Land Value Tax' label for suggestions as to how it might work in practice and which taxes would be replaced.