tag:blogger.com,1999:blog-14115431.post253058521057860939..comments2023-10-16T15:59:02.445+01:00Comments on NEIL HARDING: 10 policies to reinvigorate the LeftNeil Hardinghttp://www.blogger.com/profile/01333739272733802133noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-14115431.post-58923936064935950892014-05-06T20:01:49.495+01:002014-05-06T20:01:49.495+01:00Freeholders receive an implicit £200bn per year St...Freeholders receive an implicit £200bn per year State subsidy. This causes inefficiency and over consumption in our land/property market. Which is why we have a massive surplus of property resources, not an under supply.<br /><br />It's very doubtful building more homes will do anything substantial regarding housing affordability, due to the effects of agglomeration and scarcity where people most want to work and live.<br /><br />A LVT would firstly put an extra £11,000 per year in the pockets of the average household. Secondly, it would reduce the exchange value of freehold titles. Theoretically to zero.<br /><br />When you combine both of these, housing affordability increases four fold for an average UK household.<br /><br />We also get a much better allocation of existing properties, and a higher re-cycling rate of existing sites.<br /><br />All without the need to build a single extra new home. Probably for decades.<br /><br />And the economy would do pretty well too.<br /><br />benjhttps://www.blogger.com/profile/11544297406005346095noreply@blogger.com