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Brighton MP calls for fairer way of being taxed
7:00am Friday 25th January 2013 in News
Brighton's Green MP is calling for a fairer form of taxation.
Caroline Lucas, who represents Brighton Pavilion in Parliament, backs the idea of a land value tax, an annual charge on the rental value of land.
The charge, which does not take into account the value of buildings, personal property and other improvements, would replace existing forms of raising revenue.
The bill’s second reading will be discussed in the House of Commons today (January 25).
Dr Lucas said: “Damaging practices in the volatile property market – speculative land-banking, the overvaluation of property and excessive accumulation of debt – were among the key causes of the 2008 financial crisis.
“That’s why, on Friday, I am introducing a private member’s bill on land value tax, which explores how a reform might address these problems.”
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