Dan Peters 09 November 2023

Land value tax could redistribute billions

Land value tax could redistribute billions image
Image: Irene Miller / Shutterstock.com

A plan to reform business rates could lead to billions of pounds being redistributed from high land value areas to other parts of the country.

The report by the New Economics Foundation (NEF) think-tank called for the land value amassed in places like London to be exploited.

Under the proposal, a business property tax would be levied on rents paid by businesses and retained locally while a new land value tax paid by landlords would be created and redistributed by Government from high value areas to other parts of the country.

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