18. Quotations

In my opinion the least bad tax is the property tax on the unimproved value of land, the Henry George argument of many, many years ago’                                                                                      Milton Friedman (1912-2006):  American economist and Nobel laureate.

‘The economic case for a Land Value Tax is simple and almost undeniable. Why then do we not have one already? Why hasn’t it been adopted widely in the western world? Even more puzzling is that, right now, as western economies struggle with the global financial crisis, why isn’t this form of taxation being seriously considered as an alternative?’                                                                                                                            Sir James Mirlees (1936-2018): Nobel economics Laureate.                                                                 Continue reading

Explanation Part 1.


I suggest that there are four basic principles or characteristics of LVT that may be expressed under the headings:

  1. Community created value.
  2. Taxation according to means.
  3. A direct tax.
  4. Simplicity and clarity.

3. A Direct Tax

LVT has the advantage of being a direct tax. One of the arguments against indirect taxes is that they are indiscriminate––they are paid equally by the rich and poor alike and are therefore unfair. However they are popular with governments, as they allow the people to believe that they are not really being taxed, they are simply paying higher prices.       Continue reading

Explanation Part 2

    • INDEX:

1.  Diagrammatic explanation of LVT.
2.  Application of LVT.
3.  Advantages of LVT.
4.  Early history.
5.  20th Century history.

2. Application of LVT

LVT may be described as a levy that society imposes for the exclusive occupation and use of a site. The use to which the site is put may or may not be for wealth-creation purposes. For instance, where a site is occupied for a purely residential purpose, the levy is still payable according to the value of the site.   Continue reading

3. Advantages of LVT

Regional Re-distribution

In the UK, at the present time, a considerable amount of taxpayer’s money is spent on regional assistance schemes aimed at depressed areas, in order to encourage economic activity and a revival in fortunes for the populace in those areas. A national land value tax would automatically address this problem.     Continue reading