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Land Value Tax: back on the table in the UK

October 7, 2014   Blog
Landlords grow rich in their sleep without working, risking or economizing. The increase in the value of land, arising as it does from the efforts of an entire community, should belong to the community and not to the individual who might hold title.

“Landlords grow rich in their sleep without working, risking or economising. The increase in the value of land, arising as it does from the efforts of an entire community, should belong to the community and not to the individual who might hold title.” John Stuart Mill, Political Economy, 1848

Land value taxation, an annual charge on the value of land, has been talked about for a very, very long time. In the UK it was proposed in the people’s budget of Lloyd George in 1909, and in the subsequent election campaign it became such a hot issue the governing liberal party made a song about it, “The Land”, their election anthem in a time before party political broadcasts. You can hear the original 1909 recording here.

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