Yes. Using land reform to disrupt the grip of the landed gentry was likely a valuable move helping the development process writ large in East Asia. Much more than just talking about how taxing land.
-
-
if you have to sell council houses at a huge discount to tenants, it's not economical to ever build new ones. so they were replaced by a demand-subsidy Housing Benefit (think a guaranteed means-tested section 8) which has become a spiraling gov cost & pumps up private rents
-
I see. So it was an ongoing policy and not a one-off?
-
it's *still* an ongoing policy. the Tories are starting to realise that housing demand subsidies being a 23.4 billion per year current expenditure is unsustainable so they removed restrictions on muni borrowing to build this year, but RTB is a totem for them
-
Huh. Wild.
-
That was the main plan to win over working people, make them homeowners that benefitted from (credit-fuelled) home price rises (enabled by financial deregulation).
-
Also ties in with Niall Ferguson’s idea of a property owning democracy. Property owners have a stake in the system and become reluctant to overthrow it
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.