tag:blogger.com,1999:blog-1141932539860553199.post8115067334815175825..comments2024-03-05T10:52:24.691+00:00Comments on Mark Wadsworth: Indian Bicycle MarketingMark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-1141932539860553199.post-48305896195371035882013-09-25T20:28:26.034+01:002013-09-25T20:28:26.034+01:00BJ, yes, but that's a slightly different topic...BJ, yes, but that's a slightly different topic.<br /><br />"Wealth creation" in this country bears three-quarters of all taxes, businesses are hideously overtaxed if you include VAT, PAYE, corp tax and Business Rates etc in totality (I see no reason to distinguish between taxes borne by employer and employee, they are all part of the business).<br /><br />But commercial premises are only one-eighth of all developed land by area (perhaps a bit more or a bit less in terms of value, who knows), so under a full on LVT-only system, one-eighth of revenues would come from revamped Business Rates (which might well be two or three times as much as current BR).<br /><br />Overall, even we imagine that BR are borne by "businesses", the overall tax burden on "businesses" would fall by three-quarters (or whatever the maths is).Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-75161234350356740552013-09-25T19:44:57.675+01:002013-09-25T19:44:57.675+01:00@ Aha! So we might be able to tack another 20bn or...@ Aha! So we might be able to tack another 20bn or so onto your estimate? Not to be sniffed at.benjhttps://www.blogger.com/profile/11544297406005346095noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-50142385821164994382013-09-25T18:20:55.204+01:002013-09-25T18:20:55.204+01:00BJ, yes, having done the calculations forwards and...BJ, yes, having done the calculations forwards and backwards, we can assume that BR picks up, in total, "about half" the total site only rental value.<br /><br />Problem is, it picks up more than site only value in tatty areas, probably the right amount in normal sort of areas and only a small fraction in expensive areas.<br /><br />There is a huge difference between comm and resi valuesin London - you can make handsome windfall gains by buying a comm building with large BR bill and getting it re-zoned as residential, with modest Council Tax bills instead.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-11520529202929864872013-09-25T17:52:28.647+01:002013-09-25T17:52:28.647+01:00@MW
Very interesting what you've said about B...@MW<br /><br />Very interesting what you've said about BR picking up about a third of the total rental value.<br /><br />On residential properties, the site value represents about 2/3 the total value.<br /><br />Even assuming this ratio is roughly the same for business(although I'd guess higher), that would mean a third of site values are still getting swallowed up by landlords.<br /><br />So, does this mean your 200bn extra LVT revenues figure is slightly on the low side, if BR was reformed as well?<br /><br />How much does it cost to buy land for commercial development? If BR was a 100% LVT it would be zero or near about. I've got a feeling it isn't.<br /><br />Is there any difference between residential and commercial land prices in central London for example? <br /><br />benjhttps://www.blogger.com/profile/11544297406005346095noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-41771827437495925892013-09-25T15:44:08.841+01:002013-09-25T15:44:08.841+01:00MW. I am glad you said that about Major. I always...MW. I am glad you said that about Major. I always thought he was under-rated and that he lost out to a combination of vulnerabilities in his cabinet and epically skillful deceit and news manipulation by Blair / Brown.(really Mandlesohn/Cambell/McBride etc)Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-4883986959114004522013-09-25T15:26:01.449+01:002013-09-25T15:26:01.449+01:00Is Mr Sinclair lying, or is he deluded? I'd l...Is Mr Sinclair lying, or is he deluded? I'd like to think the former, but I'm afraid it's the latter.<br /><br />Mark, there's no point in getting worked up. AFAICS, the powers that be have got things just as they like them, thank you very much, and they wouldn't want the pols wanting to change any of the essentials, which leaves them only the more irrelevant bits to argue about.Bayardhttps://www.blogger.com/profile/15211150959757982948noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-63608863167966276812013-09-25T15:02:20.143+01:002013-09-25T15:02:20.143+01:00P, houses were cheap, unemployment was falling, cr...P, houses were cheap, unemployment was falling, crime was falling, pubs could stay open all day, shops could open on Sunday, he didn't bail out banks (like Barings), they didn't constantly tinker with interest rates or the tax system, they started phasing out MIRAS, he didn't get involved in any stupid foreign wars (he inherited Kuwait invasion from Thatcher, is all), mildly Eurosceptic.<br /><br />Plus he had the nerve to resign as leader of the Tory party even while PM. And of course there was the cones hotline, which I think tips the balance in his favour.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-58170668063231550202013-09-25T14:47:00.130+01:002013-09-25T14:47:00.130+01:00MW: "John Major's lot who are a shining b...MW: "John Major's lot who are a shining beacon of hope"<br /><br />Eh?! - perhaps you could expand on this.<br />Pablohttps://www.blogger.com/profile/02533957790112612344noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-47040402043056360592013-09-25T14:39:55.203+01:002013-09-25T14:39:55.203+01:00why not ? because the focus is always about him [s...why not ? because the focus is always about him [specifically] rather than his ability to govern. Look at his speech yesterday. The day before the media were ready to maul him, but his speech was seemingly delivered well and so ears pricked up, this morning, he dithered and blathered on Radio 4 so now their back to mauling him.... and his vision for a 2015 LabLib Government will wither on the vine as all his yesterday promises get ripped to shred.... So between now and the next election it will be the same scrutiny of his abilities every time.... I did just try thinking harder and squeezing my eyes even harder still.... but nope... all I saw was wallace saying cracking cheese gromit !ageing manhttps://www.blogger.com/profile/12913665856316754730noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-61049057044949297792013-09-25T14:17:40.430+01:002013-09-25T14:17:40.430+01:00AM, I can imagine Red Ed as Prime Minister, why no...AM, I can imagine Red Ed as Prime Minister, why not? And his government would manage to be even worse than the Lib-Cons, continuing the fine tradition of each UK government being a bit shitter than the one before it (except for John Major's lot who are a shining beacon of hope, if judged with hindsight).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-89274221372710069412013-09-25T13:27:08.651+01:002013-09-25T13:27:08.651+01:00but it all comes down to this..... close your eyes...but it all comes down to this..... close your eyes...then try and imagine Ed being Prime Minister...think really really hard..... squeeze your eyes tighter..... not working ? ....no it didn't work for me either....so sod the policies.... Ed the knob won't be PM so it looks like we are stuck with Dave the Wanker...<br /><br />The truth is we now have the politicians we deserve, and alas the level of taxation we don't. Can that situation really honestly change ? Not in what's left of my life I don't think so.ageing manhttps://www.blogger.com/profile/12913665856316754730noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-73616797890798181242013-09-25T12:27:19.965+01:002013-09-25T12:27:19.965+01:00L, not "nettled" as such, the issues bei...L, not "nettled" as such, the issues being debated are neither here nor there, it's like the Red Wing basing its whole 2015 General Election campaign on the policy that they will reduce the speed limit on motorways to 69 mph and the Blue Wing saying they will increase it to 71 mph, and just ignoring everything else which is going on.<br /><br />Has Red Ed said that he will shut down Help To Sell, for example? (I dunno, perhaps he has).<br /><br />So what troubles me is that "they" want us to get all het up about very, very minor issues of only marginal interest to anybody.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-56577422298235819242013-09-25T12:16:03.847+01:002013-09-25T12:16:03.847+01:00Bit nettled are you Mr W eh?Bit nettled are you Mr W eh?Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.com