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by mrec
2836 days ago
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> high land prices impose private (i.e. paid into the private sector) taxation, rather than public Agreed, though I'm not sure that's much consolation to the ones paying it. With public taxation at least you can hope you're helping to fund something useful. |
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BTW, you mentioned reservations about possible overspending by Corbyn's Labour. I'm encouraged however by the noises they're making about productivity, e.g. in a recent report:
"The report’s guiding idea is to encourage finance to flow towards productive investment rather than speculation in property. This reflects an old complaint about the City of London: it is a global entrepot with little interest in promoting productive investment in the UK." [1]
And here is a very good primer on the important distinction between productive and unproductive credit. [2]
[1] https://www.ft.com/content/c59c189e-85b8-11e8-a29d-73e3d4545...
[2] https://youtu.be/N-FDdHj7rPk