@LabourLand Campaign | Tax havens – one of many reasons for taxing the quintessential on-shore asset

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Labour Land Campaign

Tax havens – one of many reasons for taxing the quintessential on-shore  asset

The documents leaked from Mossack Fonseca provide indisputable proof  that the UK’s tax system is not fit for purpose and there needs to be a  fundamental shift in what is being taxed to prevent the rich and  powerful from avoiding paying taxes.

Dave Wetzel, President of the Labour Land Campaign said, “This leak only  confirms what we already knew about the UK tax regime: those who are most able to pay avoid paying whilst workers and small businesses are
left to fund public services.”

One reason why the Labour Land Campaign (LLC) has campaigned for years  for land value taxation is because land is the quintessential “on-shore” asset and a tax on it is therefore unavoidable.

Dave Wetzel went on, “It is ironic that so much of the wealth squirrelled away off-shore actually derives from the increased land values that are generated by public  services paid for by UK taxpayers. And yet our tax system helps the  richest and the unscrupulous avoid contributing to the cost of these  public services that they are the very ones to benefit the most from.”

More fundamentally, taxing the unearned incomes land owners siphon out  of the real economy will make it possible to eliminate all the dead weight losses associated with our current economically inefficient taxes which variously inhibit work, business, enterprise, trade and  investment. Changing what is taxed will make our fiscal system fairer and more economically efficient to the benefit of society as a whole and  to the profit of the vast majority of its citizens.

-ENDS-

The Labour Land Campaign is a voluntary organisation working for land  reform. It advocates a fairer distribution of land wealth through a Land  Value Tax.

For more information see www.labourland.org

URL for posting on Twitter:
http://www.labourland.org/press-releases-and-archive

Contact details
Press Officer: Anthony Molloy
Email: anthony1molloy@gmail.com / press.officer@labourland.org
Telephone: +44 (0)7704 116 238

 

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