EDITOR, The Tribune.
Governments everywhere want economic growth and jobs for their people. Yet they sprinkle job killing taxes (re the VAT) throughout the economy. Then they give exemptions, rebates, subsidies, etc in hopes of countering the damage caused by the very taxes they levied.
Why do governments continue to dampen the productivity of labour and capital when capturing the socially created value of the free gifts of nature (called ‘land’ by Adam Smith, Winston Churchill, Joseph Stiglitz and others) will help solve many current economic and social problems.
If nature’s worth in terms of beaches, reefs, fresh water urban land, etc, was captured by the elected government it would discourage resource speculation. It would slow urban sprawl, reduce pollution as former PM Lynden Pindling said in 1977, pay for infrastructure that helped create land values, in the first place.
A tax shift from labour and capital to the social value of nature would not stifle incentive and productivity as will the proposed VAT.
JOHN FISHER
Fresh Creek,
Andros, March 13, 2013.
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