The book covers the need for a shift of taxes from those currently on human enterprise onto those on natural resources. Out would go such as vat, income tax and corporation tax, in would come such as land value tax. The economy runs far less efficiently because we do not do this. Vickers cites a study of 200 cities in the US, most of which tax land separately to buildings. The greater the proportion of tax on the land of the plot compared with that on the building on it, the greater the renewal of the city.
He sees the chances for Land Value Tax (LVT) being implemented in the UK increasing, due to the possibilities for Scotland, Wales and London to tax independently. He thinks the environmental movement will add pressure to use LVT. Some countries of the old Soviet Union have introduced it, Australia and New Zealand have used it for years.
This is a up-to-date study of the topic and any property developer who is not fully aware of the implications of LVT for their business is advised to get to know the issues through this book. Politicians who are open to fairer and more efficient solutions for local and national taxation will need it too. Those already convinced of the need for LVT will benefit from its detail.[Lost 1 star for lack of index]