In an effort to reinvigorate house building in Britain, a land value tax has been suggested. It would apply to the value of land regardless of what has been built on it. Photograph: Graham Turner for the Guardian
Britain must build more homes. That was the chant from MPs on left and the right alike as they returned from their summer breaks. It's the latest response to deep frustration at the beleaguered state of the economy.
Tory backbench MPs are as frustrated as their Labour counterparts at the seeming lack of action in the Treasury. A new house-building drive is one policy on which they can all agree.
There could not be many quicker ways to improve the country's infrastructure and generate jobs. It is credited with having been the cure for the 1930s slump and there is a chronic shortage of homes, especially of the two and three-bedroom variety that young families need.
The Treasury, rather timidly, has already said that it wants the big occupational pension funds to invest in residential property and hinted that there may be more flesh on the bones of the idea in the autumn statement in December. We've also heard the prime minister announce a package of measures designed, he says, to improve confidence.
There could not be many quicker ways to improve the country's infrastructure and generate jobs. It is credited with having been the cure for the 1930s slump and there is a chronic shortage of homes, especially of the two and three-bedroom variety that young families need.
The Treasury, rather timidly, has already said that it wants the big occupational pension funds to invest in residential property and hinted that there may be more flesh on the bones of the idea in the autumn statement in December. We've also heard the prime minister announce a package of measures designed, he says, to improve confidence.
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