The fourth thing to be_ done, we are told, is
to make the land contribute to public expenditure on the basis of its real value. In other words, there is to be the taxation of land values. This means that if a man has got a valuable piece of land which, while waiting for its development, he uses for some poorly remunerated purpose, advantage, is to be taken of that fact. Land is to bear a special burden quite different from other property—a curious way of getting the land into the hands of the people. Accordingly Mr. Lloyd George declares that the Government have accepted the principle of the rating of site values, and intend to give effect to their decision by legislation. Having regard to vested interests, however, it would not be possible to transfer the whole burden of the rates from the structure to the site. He stopped short of telling vs what the proportion of the burden is to be. For the present we must be content to know that there are several alternative methods, and that whatever plan is adopted will be helped on by the national valuation which is to be ready next year. We wonder. We are bound to say that hitherto land valuation has been like Alice's jam in Wonderland. Jam to-morrow means never jam to-day.
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