Challenging vested interests in land must be central to tackling the housing crisis
***Embargoed until 10am 8 May 2013***
Today the Centre for Labour and Social Studies (Class) launches a new think piece, “In Land Revenue: The case for a Land Value Tax in the UK”.
Bold responses are required if we are to tackle the ongoing economic and housing crises. It is clear that our current land economy is a key part of the problem and a system which benefits the few and not the many must change.
This paper proposes that a Land Value Tax, targeted at unproductive wealth and speculation, could help deliver the house-building revolution – and the economic revival – our country desperately needs.
Andy Hull, the author of the paper says:
“Introducing a Land Value Tax here will take political courage. It will mean facing down vested interests, not least the big land-banking ‘developers’ who deliberately drip-feed properties onto the market, making large profits on small volumes of output, even though they have the land and the country desperately needs more homes.
It will take a manifesto commitment, a real mandate, and no doubt a battle in parliament. But, at least in some sense, this land is ours. And our tax system should reflect that fact.”
Notes to Editors:
1. The Centre for Labour and Social Studies (Class) is a new think tank established in 2012 by Unite the Union, GMB and the Institute of Employment Rights to act as a centre for left debate and discussion and has the growing support of a number of trade Unions including ASLEF, CWU, GFTU, NUT, PCS, TSSA, and UCATT. Originating in the labour movement, Class is working with a broad coalition of supporters, academics and experts to develop and advance alternative policies for today. http://classonline.org.uk/about/panel
2. More information on “In Land Value: The Case for a Land Value Tax in the UK” can be found here: http://www.classonline.org.uk/pubs/item/in-land-revenue (embargoed until 10am 8 May 2013)
3. The author of the paper is Andy Hull, a researcher and consultant, specialising in housing, security and equality. Previously a Senior Research fellow at the IPPR, leading the Institute’s research on security and housing, Andy is currently an elected councillor in the London Borough of Islington http://classonline.org.uk/about/authors/andy-hull
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