Land prices
Sir, — Bob Jones is reported as saying that unless farmland prices fall dramatically large-scale government ownership of land is inevitable and will result in farmland being leased, perhaps on a lifetime tenure and subject to a wide range of inspectors, interference and direction. I am not sure why Mr Jones singled out farmland. Land prices in the city are even higher and what Mr Jones said applies to all land. We cannot expect that any one section of
the economy will volunteer to spearhead a deflationary movement; somehow we must get everyone to move together. Why not urge the Government to institute a scale of rating high enough to discourage speculative dealing? The increase of revenue from rates could be offset by a diminution in income tax. A radical shift in the basis of revenue collection is the only way to avert the eventual collapse of capitalism predicted by Mr Jones. — Yours, etc., CONSTANCE G. FOSTER. Nelson. April 13, 1979.
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Press, 17 April 1979, Page 16
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162Land prices Press, 17 April 1979, Page 16
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