tag:blogger.com,1999:blog-1141932539860553199.post1408260501803403986..comments2024-03-05T10:52:24.691+00:00Comments on Mark Wadsworth: Killer Arguments Against LVT, Not (361)Mark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-1141932539860553199.post-67698578173412654162015-06-06T17:15:29.901+01:002015-06-06T17:15:29.901+01:00B, don't worry, I was just being pedantic.
Bu...B, don't worry, I was just being pedantic.<br /><br />But there is a trade off - if councils have no incentive to grant planning then they won't, even though owners of undeveloped land will be crying out for it. The way to get the optimum amount of development (which might be 'lots' or it might be 'none') is to balance things between the two parties.<br /><br />Silly analogy - if two people go into partnership and one is entitled to most of the profits and the other to very little, then the first partner will bust a gut but the second partner won't try very hard and profits fall by nearly half. If they share profits equally, then the two of them taken together put in much more effort.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-30600640859158886172015-06-06T16:14:56.829+01:002015-06-06T16:14:56.829+01:00Mark, fair enough, I should have said windfall gai...Mark, fair enough, I should have said windfall gain to the landowner.<br />Bayardhttps://www.blogger.com/profile/15211150959757982948noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-48543482954437251172015-06-06T11:41:37.814+01:002015-06-06T11:41:37.814+01:00JH, yes, but you know what we are up against.JH, yes, but you know what we are up against.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-69396057767166217462015-06-06T08:35:28.249+01:002015-06-06T08:35:28.249+01:00Well, we'd best get this LVT going quickly the...Well, we'd best get this LVT going quickly then.James Highamhttps://www.blogger.com/profile/14525082702330365464noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-54047827748509710122015-06-05T16:25:32.894+01:002015-06-05T16:25:32.894+01:00B LVT does not reduce the windfall gain by one pen...B LVT does not reduce the windfall gain by one penny, it merely affects the public-private split. So the council's incentive to grant change of use goes up by more than private incentive to apply for change goes downMark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-19447227964790263602015-06-05T16:11:34.180+01:002015-06-05T16:11:34.180+01:00"If you tax something, you get less of it.&qu..."If you tax something, you get less of it."<br /><br />You have to remember that the Homeys make a distinction between "land", i.e agricultural land, and "building land", which is an artificial distinction caused by planning laws. So, since 99% of the tax would be borne by building land, you'd get less land being changed from agricultural to building. However, that isn't true anyway, given that LVT would not remove the windfall gain to be made by getting permission to build, only reduce it, so the incentive would still be there. Sure it would do away with landbanking, but who cares about that, apart for the speculators?Bayardhttps://www.blogger.com/profile/15211150959757982948noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-8388064482156690582015-06-05T16:04:12.584+01:002015-06-05T16:04:12.584+01:00M, exactly
R, good one!M, exactly<br /><br />R, good one!Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-5980765052241643452015-06-05T15:17:55.825+01:002015-06-05T15:17:55.825+01:00M, exactly
R, good one!M, exactly<br /><br />R, good one!Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-38984844271795613982015-06-05T15:15:44.997+01:002015-06-05T15:15:44.997+01:001. "If you tax something, you get less of it....1. "If you tax something, you get less of it."<br />The land must have disappeared somewhere :o. In reality, land value tax due to its effects on vacant building will "increase" the amount of land (for use.)Randomhttps://www.blogger.com/profile/04445772572707818311noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-66697281698768700432015-06-05T13:50:19.510+01:002015-06-05T13:50:19.510+01:00"If you tax something, you get less of it.&qu..."If you tax something, you get less of it."<br />So why exactly are we taxing labour, turnover and profits?????mombershttps://www.blogger.com/profile/09650866436764567516noreply@blogger.com