Site value tax would be better and fairer option than a property tax

THE Government thinks we are too thick to understand the site value tax.

They think we would get our heads around a property tax based on the value of our properties much more quickly.

It wouldn’t be as good, mind. It would promote bubbles and speculation. In fact, it would rely on them, because the more the price of property went up, the higher the percentage tax could go. It might feel like the heady days of stamp duty!