TAX ON LAND

Hokitika Guardian, 6 May 1931, Page 4

TAX ON LAND

BRITISH PROPOSAL. (Official Wireless.) RUGBY, May 4. In the House of Commons, Mr Snowden explained his proposals for the taxation of land values for which as he announced in the Budget speech, provision will be made in this jear s Finance Bill, though the tax cannot he imposed for two years, by which time the necessary preliminary valuation will have been carried on, He said that a restriction on the use of land was restriction on human endeavour. Rand values were rising in the large towns to fabulous prices, The Lordship of Liverpool sold in the year 1638 for only £l5O but recently sites m Liverpool had been sold at tlm rate of more than £1,000,000 an acre. ' He described the tax on land as “rent to the community for use of the property to the' community.” The revenue would not be the only advantage. but it would also have the effect c-f cheapening land. • . The first step was the valuation. It would begin in October, and be completed within two years, at. an estimated cost of between a million and a million and a-half pounds. Adopting the advice of Mr Lloyd George,,he proposed ‘that jit should be as simple and direct as j possible,, avoiding the complexities upon which the former scheme for taxation of land, valuer broke down. There would be between ten and twelve million separate nereditaments to value. The values ascertained were to be made public and he hoped that they would- become in due course, a basis for the purchase of” land for public purposes, and a basis of local rating. •)■ ' 1

Mr Snowden said that the tax which would be levied at a rate of Id in the £1 would not- apply to agricuL tural land, and land of higher value would ho subject to the tax only on the excess over its agricultural value. There would he exemption on where the total amount payable did 1 not ex* ceed 10s and equivalent to a capital value of £l2O. Certain land would be exempt, such as sites for churches, public buildings, hospitals, and land used by the railway and other publio utility companies. He would not venture to estimate the yield at present,. He claimed that the scheme was ft practical beneficial measure to deal effectively with a great social wrong', Mr Austin Chamberlain reserved the criticism of the Opposition till the proposals were available in detail. He said that the effect of the tax would be to put an additional burden of income tax on a class of property which already paid its full contribution.

PROPOSED DISCUSSION. ! LONDON, May 5, Political writers complain that there was an acrimonious tone and obscure terms used by Mr Snowden in hia speech on the land tax measure. The “Daily Telegraph” says.— There was evasiveness which is regarded in Opposition circles as substantiating a belief that Mr Snowmen 'and colleagues are concerned l mainly with electioneering propaganda. The present debate is largely futile. The issue, can only be joined when the Finance Hill is published. The “Morning Post” describes it as. “an unblushing piece of class legislation drafted in partisanship, and inspired by vindictiveness,”