Lead South West Green Party European candidate Molly Scott Cato is to go head to head with Vince Cable, Secretary of State for Business, Innovation and Skills, in a panel discussion on Land Value Tax (LVT).
Molly, who is also Green Party speaker on finance, said:
“The Green Party has long championed the idea of a LVT. Indeed our MP Caroline Lucas has put forward a Land Value Tax Bill in Parliament. Such a tax would be a fair and progressive way to encourage both the creation of more homes, and a more efficient and sustainable use of land by making it unprofitable to sit on unused land.”
The Green Party are calling on the Treasury to look into the practicalities of replacing Business Rates and Council Tax with a Land Value Tax, with a view to phasing it in over a period of 10 years or more.
“I will be arguing the case for LVT as a green tax that can be used together with the planning system to ensure everyone in the local community benefits from the use of local land, rather than just a very small number of wealthy landowners. A windfall tax on the profit from the development of land would provide an important alternative source of revenue for local government, helping them to invest locally and avoid cutting services.”