The Spectacular Failure of Britain's Land Value Tax: A Cautionary Tale
2025-03-13
In the early 1900s, the British Liberal Party attempted to implement a land value tax, inspired by Henry George's theories, to solve local government funding crises. However, the initiative proved disastrous. Complex calculations, high administrative costs, and a crippling blow to the construction industry led to its repeal. The episode serves as a cautionary tale about the practical challenges of implementing a pure land value tax and the importance of considering administrative realities and economic impacts.