CommonWeal: Forget about the consequences of your actions
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Public authorities would be allowed to seize land under the “Public Land Value Capture” proposal suggested by the think tank Common Weal. In short, public authorities should have the legal means to purchase land at the existing “use value” rather than at the anticipated future value once planning permission is granted (known as ‘hope value’).
Public authorities would borrow against the future uplift (upswing) in land value from the granting of planning permission to develop the site. This borrowed sum could then be used to fund …
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