Phillip Legrain writes on property prices and speculation in the Guardian today ending with this call …
Last but not least, the government should introduce a tax on land values. Taxing wealthy landowners’ windfall gains would help curb property speculation, fund new social housing and reduce the budget deficit. Over time, shifting the tax burden off labour and on to land would create jobs, reward hard work and promote more stable, sustainable and balanced growth. Fixing the housing market should be a priority for whichever parties form the new government. (Link to article)
