Land value tax could help country

A LAND Value Tax of 3.16 pence in the pound would generate enough money to replace council tax and the uniform business rate in Scotland, according to a new report.

The report, prepared by land reform researcher and analyst Andy Wightman, also calculated that the value of Scotland's land - setting aside developments on it - is currently 120.3 billion.

The figure was produced after the amount of different types of land in Scotland, including residential, business and derelict areas, was calculated. The average value for each category was then calculated from government data and academic research to create the national total.

Land Value Tax is designed to encourage land improvements by exempting owners of land from property taxes.

Construction projects, including new roads or train lines, would help increase the value of land in areas of Scotland, making more money from the tax which could be invested in other projects across the country.

Owners of land would pay the tax of 3.16 pence per pound of value for the area.

Mr Wightman said: "Land reform is still unfinished business, and land ownership continues to be rife with inequalities.

"A Land Value Tax would make three-quarters of Scots households better off, tackle urban blight and land banking, and stabilise the housing market. Business, retail and industry will see major gains."