Wednesday, 19 September 2012

more on wealth redistribution

A couple of week ago I was discussing Liberal plans for the redistribution of wealth-in particular inheritance taxes. The vision of society that Liberals have promoted is one in which assets for fairly spread and that the unjustified accumulations of wealth in a few hands are dispersed. This one of the reasons Liberals championed Wealth taxes, and inheritance taxes. there were two other overlapping elements of this programme-employee ownership and land taxes. It should be noted that these are not seen as short term  measures for a crisis but part of a long term redistribution. We have dealt at length with employee ownership on this blog but have rather neglected land taxes (apart that is from the youtube video of the Land Song which has had well over 3 000 views) Anyway my old friend Alan Sherwell followed up my letter to the Times about inheritance tax with one about land taxes: 

Sir, It is interesting to connect two of the issues you are reporting on at the moment: wealth tax and green belt development.

If, regrettably, the Chancellor’s plan to allow green belt development goes ahead, some land owners will find that their previously low-value land becomes extremely valuable. The landowners will have done nothing to merit that significant increase in their wealth. Surely the community as a whole should benefit not an individual whose gain is purely by chance?  What better example could there be to support Professor Sandilands’s call for the taxation of land values?

Alan Sherwell
Aylesbury, Bucks 

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