In the Summer of 2013, the Centre for Economic Justice commissioned a documentary to discuss the relevance of LVT in the UK. ‘The Taxing Question of Land’ was launched at the Royal Society of Arts in September 2013.
Complex tax systems allow for avoidance, evasion and expensive administration costs to both the public and private purse. At the recent G8 summit, the UK placed tax compliance as one of the most important issues facing the world today.
Our fiscal system is in need of serious and sincere reform and revision. The UK borrows a third of its annual budget and the revenue raised for the remaining two thirds is secured from taxes on our economy, all while expecting growth in this area.
Land Value Taxation (LVT) offers a best of both worlds approach, generating government revenue without taxing economic growth. In the backdrop of international financial crisis, many feel that LVT is an idea whose time has come.
Visit the film’s official website
It is unfortunate that massive budgetary difficulties and deficits forces governments to adopt taxation policies that are both fair and effective. Common sense should have been their motive instead. Maybe governments should forget playing politics first and start to place the economic welfare of their people first.