Letter to the Editor
Speculators have excelled themselves with their land banking. A realistic flat-rate land tax would discourage speculation.
It would be equitable because land values rise due to community action, including the provision of infrastructure such as railways, roads, public buildings and other facilities, not through the efforts of the owners.
Unless we make major changes, most of the next generation will not be able to buy a home.
Published in the Age, 19/03/2010