Land Tax Could Trigger 'House-Building Revolution'

A left-wing think tank has launched a paper calling for a land value tax to help deliver a ‘house-building revolution’. The Centre for Labour and Social Studies (CLASS) suggests a land value tax could replace business rates and stamp duty, and should be levied on all land except where it lies under people’s homes.  ‘Very wealthy homeowners should pay, but those with limited incomes could defer payment where required,’ the report ‘In land revenue: The case for a land value tax in the UK’ states. The paper says the tax should end land speculation which means higher land prices and a lack of land for building.  Download a copy of the report from the CLASS website.