From The Guardian:
Mark Wadsworth, the head of the Campaign for Land Value Taxation, said: “The minority with a vested interest in high land values will no doubt celebrate higher values, saying that is shows the importance of land to the UK economy.
“In truth, land values are not a net addition to national wealth, they merely represent the benefits that accrue to landowners because of government spending on public services funded out of general taxation; land values are actually just a measure of ongoing transfers of wealth from taxpayers to landowners and a zero-sum game.”
It's nice to have a journalist contact you for a quote and then publish it verbatim, unlike my experience with The Telegraph who twisted everything on its head (not that I didn't expect it from them, but all publicity is good publicity).
Forbidden Bible Verses — Genesis 42:18-28
1 hour ago
6 comments:
"the importance of land to the UK economy"
By which, presumably they mean its importance in contributing to GDP, rather in the same way as digging holes and filling them in would.
B, land doesn't contribute to GDP. How can it?
If we all sold our houses to each other, GDP would go up, would it not, but our net wealth would stay the same?
I am assuming that by "the importance of land to the UK economy" they meant all the activities generated by the ownership of land, estate agents, lawyers, the taking out and paying off of loans secured against it etc.
B, it means whatever they want it to mean.
Nice one, you are getting really good at summing up the issue too.
SL, thanks, it's taken me ten years.
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