MPs call for land tax to encourage home building
A tax on increases in land value could stimulate the building of thousands of new homes by raising money for new infrastructure
A parliamentary committee is to say today that a tax on increases in land
value could finance the building of thousands of new homes.
will be advised to ensure that the tax is ‘precisely tuned’ before rushing
into legislation, and it will be encouraged to undertake a full cost-benefit
The precise details of the tax, known as a planning gain supplement, are
widely expected to be in this winter’s pre-budget report, the
The idea was put forward a year ago in a report by Kate Barker, a member of
of England’s monetary policy committee, but concerns remain over
how to implement the tax in practice.
Read more on the planning gain supplement