Radical land tax proposal gains traction with support from across the political spectrum

The radical proposal to implement a flat annual land tax instead of the current complex system of property taxes is gaining significant cross-party support in Britain.

Campaign group Fairer Share believes that a land tax would help address the current system's inefficiencies and inequalities, particularly with its reliance on outdated 1991 property valuations.

Supporters argue that a new flat land tax could stimulate economic growth while providing necessary revenue, with 77% of homeowners projected to benefit from lower overall taxes.

Critics caution that implementing such a change could destabilize the housing market, particularly in affluent areas, leading to a drop in property prices if not managed carefully.

Read at Business Matters