Watling completely misses out the effects of the 1909 Town and Country Planning Act, which was key to the drop in housing before the Liberals applied their LVT
Additionally, I think we can look to more examples of a successful LVT, like Estonia or Copenhagen
The rise in house prices during the covid stamp duty holiday shows the incidence of SDLT falls almost entirely on the property owner (as one would expect when supply is inelastic), so while switching from a transaction tax to a yearly property tax would be more efficient I don't think it alone would affect wealth distribution (which would require planning reform).
Pleasantly shocked to see an article expounding the benefits of LVT in Pimlico Journal.
(But what is “real estate?”🇺🇸)
Good article Francis, but a few things I think you might have included
As I wrote about here: https://open.substack.com/pub/danlewis8/p/land-value-taxes-in-the-real-world?r=grzc0&utm_medium=ios&shareImageVariant=overlay
Watling completely misses out the effects of the 1909 Town and Country Planning Act, which was key to the drop in housing before the Liberals applied their LVT
Additionally, I think we can look to more examples of a successful LVT, like Estonia or Copenhagen
The rise in house prices during the covid stamp duty holiday shows the incidence of SDLT falls almost entirely on the property owner (as one would expect when supply is inelastic), so while switching from a transaction tax to a yearly property tax would be more efficient I don't think it alone would affect wealth distribution (which would require planning reform).