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Land value tax has long been popular with economists. Unlike most taxes, it doesn’t discourage people from working, investing or building - and in theory it can raise money without distorting economic decisions. So why don’t we use it more?
In this episode, Helen is joined by Stuart Adam and Ben Zaranko to explain how a land value tax would work, who would gain and lose from introducing one, and why its effects can be very different for existing landowners and future buyers.
We also look at some of the big practical and political questions. Can land really be valued accurately? Would the tax be fair? Could it replace council tax, stamp duty or other taxes? And should governments capture more of the increase in land values created by new infrastructure or planning permission?
Host
Helen Miller
Helen joined the IFS in 2007. She has almost two decades of experience analysing UK fiscal policy and providing trusted advice to policymakers.
Participants
Stuart Adam
Stuart is a Senior Economist working in the Tax sector, and focuses on analysing the design of the tax and benefit system.
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