For some light relief, try this article by Financial Times journalist Chris Giles, who has a novel suggestion about how to kick-start the housing market, which is no more daft than most of the proposals being put forward seriously.

The FT writes "The Bank of England’s monetary policy committee left interest rates unchanged at 5 per cent for the fourth consecutive month on Thursday, after evidence of a weakening economy left it little scope to toughen its stance against rising inflation."

This is classic stagflation. When the only means of economic regulation is through interest rates, governments have no room for manoeuvre. Underlying the problem is that economic theory offers little guidance on the subject. With an LVT system in place, matters are very different. There is no need to worry about recession because it is safe for governments to spend their way out of slumps - they can give the go-ahead to planned infrastructure schemes in the knowledge that the enhanced land values generated by that infrastructure will be recouped in higher tax revenues.

The anniversary of the Northern Rock crash is just coming up. A Daily Telegraph article analyses the events leading up to it. If money is fed into the land market, for this is what happened, the price will inevitably bubble up. And no regulation will stop it, short of a tax reform which introduces the right form of land value taxation. How long will it take for this to be understood?

Well known LVT advocate Fred Harrison has produced these videos which you can view here