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Crossrail bonanza for landowners

Crossrail could help create £5.5 billion in added value to residential and commercial real estate along its route between 2012 and 2021 according to new research for Crossrail by GVA, the UK’s largest independent commercial property consultant. According to the Crossrail web site, “The report illustrates how Crossrail will have a marked impact on a number of central London and suburban...

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Forward thinking students

We were pleased to note the formation of a group called “Forward“, which describes itself as “a policy think tank created, developed and run by students from across the United Kingdom. It aims to facilitate policy discussions on current affairs within the areas of Development.” It is expressly supportive of land value taxation.

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Starbucks again

Starbucks’ supposed losses have made the FT this time, with a jokey article which nevertheless manages to miss the point. Good for Starbucks. The tax system is a bad joke. The more people who run rings round it, the more people will notice. One can only hope that eventually the penny will drop and real reforms will be put in place. The taxation of individuals and corporations is wrong in principle....

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Murphy misses point yet again

Anti-tax avoidance campaigner Richard Murphy has got the American coffee chain Starbucks in his sights this time. But as usual he does not tell the whole story and nor does he draw the obvious conclusions – shift taxes onto fixed property. Why can’t Murphy see this? Is he serious?

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Strange times

The times get stranger. I received an email yesterday from Vince Cable asking me to campaign for fairer taxes and to sign an on-line petition for his pet project, the Mansion Tax, now suggested for properties valued at £2 million or more. Cable claims it is impossible to avoid. I could think of a couple of ways off the top of my head. I am sure a lot of people could think of more if they put their...

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We are opposed to wealth taxes

Thomas Picketty, in his new book “Capital in the 21st century”, has stimulated public discussion on the need for an international wealth tax to remedy growing inequality. He could not be more mistaken. Although so-called wealth taxes are in operation abroad, the proposal is unworkable since it fails at the first hurdle – that of definition. What is wealth? Does it include pictures...

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The Fair Tax – an Irish perspective

The economic mess that Ireland has got itself into is, as is well-known, a consequence of the credit-fuelled property boom. It was further boosted by infrastructure development funded by the EU, which would have been beneficial if only there had there been an effective land value capture mechanism is place. Instead, the Irish government abolished residential property taxes, thereby pumping up the...

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Is the cycle turning?

This article here discusses the US housing market and suggests that the upswing is just beginning there. Meanwhile, in the UK, housebuilding firm Bovis has doubled its interim dividend as profits jump and reports that it has taken advantage of the depressed land prices since 2008 to embark on an agressive round of land purchase. This seems to be all in accordance with the theory from which land...

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Unthinking concern

Concern about economic injustice needs to be tempered with a sound understanding of the causes. If it is not, you get proposals for nonsensical ideas such as global wealth taxes, currently the subject of a petition under the umbrella of change.org. How would a global wealth tax work? Who would get the revenue? How would wealth even be defined? Would it include, for example, jewellery in bedside...

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