Home > Uncategorized > Andy Burnham’s Defining Moment

Andy Burnham’s Defining Moment

Andy Burnham has not attracted a lot of media attention, it could be because he is not a Miliband or an Ed, but he has attracted our attention and for all the right reasons.

He has attracted out attention because of his proposals for a Land Value Tax (LVT). It is radical and is steeped in the principals of the Labour Party which is “to create for each of us the means to realise our true potential and for all of us a community in which power, wealth and opportunity are in the hands of the many, not the few”.

However, the ideas of a LVT are not new as it was first properly suggested by Adam Smith in Wealth of Nations and would have been introduced by the 1931 Labour Budget before MacDonald left the Party and formed the National Government thus repealing the legislation.

LVT also exists in  few countries across the world including Hong Kong; Singapore and Estonia.

But “what is LVT?” I hear your ask; it is a method of raising revenue through an annual taxation on the rental value of land. It is used not as an additional tax, but as a replacement.  There are a few models, but the one that Andy Burnham wishes to impliment would do away with Council Tax, Stamp Duty and Inheritance Tax thus making it fairer, especially to the poorest in society, whilst limiting the loopholes that many use to avoid paying tax – even within our own country as land cannot be hidden.

Without getting bogged down in the economics of it all, we would like to commend Mr Burnham on his actions and going against the flow of New and old Labour. He is simply Labour and that deserves a round of applause, especially from this author. For those really interested in LVT there is a LVT Campaign website for your to peruse.

We wish Andy Burnham the best in the Labour Leadership elections and thank him for bringing the LVT back into the public domain.

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