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Piketty still hasn’t a clue

Piketty still hasn’t a clue. His comments in today’s Observer, calling for international action, demonstrate the point. The Observer itself is worse, with a call for United Nations action in a piece headed, “The Observer view on how to clean up a squalid world financial mess“. Both pieces appear in the Observer/Guardian’s section laughably called “Comment is free”,...

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The humbug escalates

President Obama is now calling for international tax reform, following the latest tax avoidance revelations. Someone ought to tap him on the should and point out that the remedy is in the hands of the governments who are losing their revenue. If the tax system has built in leakage holes, then it will leak. Though on reflection it is a bit strange that he does not already know what needs to be done....

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Offshore capital my foot

At last the truth is coming out. All the blather about vast flows of capital flooding offshore turns out to be nonsense. There is no fleet of ships ferrying containers full of wealth to places like the British Virgin Islands. The owners of this capital have most of their investments in the middle of London, as this Guardian article explains, and this one too. Nothing has gone offshore. This means...

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Proposed high speed rail alternative – and a funding model

High Speed UK is the greener, well-connected alternative to HS2, write Colin Elliff, Andrew Coulson & Stephen Stretton – and it would save taxpayers billions. Financed by taxing property owners in connected cities on their windfall gains, HSUK would create a low fare, high capacity, interconnected railway network which would generate huge long-term profits for the nation. Our interest...

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Scottish local tax study kicks LVT can down road

The Scottish Local Tax Reform Commission has just published its 96 page final report, Just Change: A New Approach to Local Taxation. The remit of the 13-member commission was “To identify and examine alternatives that would deliver a fairer system of local taxation to support the funding of services delivered by local government. In doing so, the Commission will consider: The impacts on individuals,...

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Roll up! Crossrail land bonanza

More land value created by taxpayers’ investment which will end up in landowners’ pockets. This article in City AM describes a selection of luxury pads served by the new route where land prices are likely to rise sharply when the line opens in about four years time. Crossrail. as its name implies, runs across Central London, from Shenfield in the east to Reading in the west. For those...

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Economic effects of immigration

Concern about immigration was one of the reasons why the Brexit camp won. In the post-referendum recriminations, it has led to the Brexiters being denounced as xenophobes. The Campaign as such does not have a view on anything other than LVT, and certainly not something as sensitive and controversial as immigration. However, migration certainly has economic consequences. These underpin the whole...

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Begging according to Georgist principles – update

Abour twenty years ago there was a man in Brighton who would go up to people in the street and ask them for ten pee. He cannot have been very successful as he later reduced his request to a pee. Perhaps he did not generate sufficient sympathy, being big, sturdy and obviously well-fed. Other beggars adopted different strategies. A popular one was to ask for the bus fare to Eastbourne as they had...

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Tax Justice Network – a welcome shift?

We have always been sceptical about Tax Justice Network, which at the most, has seen LVT as part of a “balance of taxes”, which amongst other things ignores the fact that the other taxes are competing for the same revenue  stream as LVT itself. But this article is more positive than most that has come from that direction. If the prevention of tax avoidance and tax evasion are the aims,...

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