||Betterment in the UK: Past Present and Future
||Dubben, Nigel and Frances Plimmer
||In early 2004, a review of UK housing supply undertaken by Kate Barker (the Barker Review) was published. The review looked at a range of issues which might be constraining the number of houses being built in the UK. In the final report, one of the solutions proposed to encourage the supply of land for residential development is a form of betterment tax. The UK has a disastrous history of betterment taxes, each of which failed in its aims of securing for the state added value from development rights. The property industry has reacted with concern at the recent proposals for a new development tax and this paper discusses the issue of using a development tax as a device both to secure the supply of residential land to meet the UK's needs and to provide funding for much needed infrastructure to support the new developments. The paper also discusses the valuation issues which have underpinned earlier attempts at recapturing betterment for the community and, in the light of these, reviews the taxation proposals of the Barker Review.
|Year of publication:
Dubben, Nigel and Frances Plimmer (2005).
Betterment in the UK: Past Present and Future. Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society,