"UNEARNED INCREMENT" [To the Editor of the SPECTATOR.]
Sur,—TliF opulent classes are the .chief supporters of a tariff policy, hoping by its aid to escape direct taxation. There was a Press agitation on their behalf when the direct taxation of Mr. Snowden's late Budget was under discussion: "We were told that he was mulcting the few wealthy members of the community and so diverting capital from industry.- The most fair tax of any appears to be a tax on site values in rising districts; the owners to pay on the increased values of such sites, the same being solely due to local conditions, and not to their individual efforts.
There is no spoliation in a tax of this kind, neither is there any question Of confiscation, the owners being merely asked to pay a graduated tax on increased value, as is now the ease with super-tax. A tax of this kind is not a tax on industry and only falls on those very highly favoured by fortune and well able to pay. To show the possibilities of a tax of this kind, two separate sites recently changed hands in Bournemouth, which is probably the most rising town in Great Britain to-day. One, a shop, sold for £30,000, in the cent re of the town, and one for £10,500, a residence two miles from the centre. These properties forty years ago were worth £800 and £450 respectively.—I am, Sir, Jec.,
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