Friday, February 07, 2003

Attempt to force empty housing in UK to be rented out
"Many authorities have complained that their attempts to reduce the number of unoccupied houses have been hampered by people who want to keep their properties empty while watching the value rise. John Prescott told MPs yesterday: “In London and the South East, 70,000 privately owned homes have been empty for over six months. This is not acceptable. It is our intention that councils should be able to bring empty properties back into use through compulsory leasing.”

A far better response to this and so many other similar problems would be incentive taxation, ie land value taxation. Not only would it stimulate land to be put to its best and highest use, it would also raise public revenue.

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