I hope Infrastructure Australia (IA) gets to see and consider this inspired piece by EarthSharing’s Karl Fitzgerald (“K2”).
IA should understand that:-
- worthwhile capital works carried out at the taxpayer’s expense will always raise land values
- if the infrastructure is viable, it will more than pay for itself out of the uplift in land values
- so, part of the increase in land values should be captured back to the public purse to pay for the project
- the uplift in land values should not simply be left in the hands of private interests as it is currently
- no taxes will be needed, nor “public private partnerships” required
- abolish taxes!