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Property Taxation and the Economy after the Barker Review

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  • John Muellbauer

Abstract

This paper analyses the roles of property and land values in the UK economy and considers property tax reform with the objectives of improving macro-economic stability, resource allocation, economic inequality and the environment. With UK house prices at all-time peaks relative to incomes, concerns about affordability and the distributional consequences have increased. The Barker Review for the UK Treasury of new housing supply reported in 2004 and recommended extensive reforms of the land use planning system, as well as various other reforms, including new development taxes. This paper argues that these taxes are unwise compared to the property tax reforms proposed here. Copyright 2005 Royal Economic Society.

Suggested Citation

  • John Muellbauer, 2005. "Property Taxation and the Economy after the Barker Review," Economic Journal, Royal Economic Society, vol. 115(502), pages 99-117, March.
    • Handle: RePEc:ecj:econjl:v:115:y:2005:i:502:p:c99-c117
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    Citations

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    Cited by:

    1. Douglas Sutherland & Peter Hoeller & Balázs Égert & Oliver Röhn, 2010. "Counter-cyclical Economic Policy," OECD Economics Department Working Papers 760, OECD Publishing.
    2. Wouter Vermeulen & Jan Rouwendal, 2007. "Housing supply in the Netherlands," CPB Discussion Paper 87.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    3. Paul C. Cheshire & Christian A. L. Hilber, 2008. "Office Space Supply Restrictions in Britain: The Political Economy of Market Revenge," Economic Journal, Royal Economic Society, vol. 118(529), pages 185-221, June.
    4. John Muellbauer, 2018. "Housing, Debt and the Economy: A Tale of Two Countries," National Institute Economic Review, National Institute of Economic and Social Research, vol. 245(1), pages 20-33, August.
    5. John N. Muellbauer, 2007. "Housing, credit and consumer expenditure," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 267-334.
    6. John Muellbauer, 2012. "When is a Housing Market Overheated Enough to Threaten Stability?," RBA Annual Conference Volume (Discontinued), in: Alexandra Heath & Frank Packer & Callan Windsor (ed.),Property Markets and Financial Stability, Reserve Bank of Australia.
    7. Boysen-Hogrefe, Jens & Gern, Klaus-Jürgen & Groll, Dominik & Jannsen, Nils & Kooths, Stefan & Plödt, Martin & Schwarzmüller, Tim & van Roye, Björn & Scheide, Joachim, 2014. "Finanz- und Wirtschaftspolitik bei einer anhaltenden monetären Expansion," Kieler Beiträge zur Wirtschaftspolitik 5, Kiel Institute for the World Economy (IfW Kiel).
    8. Campbell Leith & Simon Wren-Lewis, 2005. "Fiscal Stabilization Policy and Fiscal Institutions," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 21(4), pages 584-597, Winter.
    9. Wouter Vermeulen & Jan Rouwendal, 2007. "Housing Supply and Land Use Regulation in the Netherlands," Tinbergen Institute Discussion Papers 07-058/3, Tinbergen Institute.
    10. Cheshire, Paul, 2009. "Urban land markets and policy failures," LSE Research Online Documents on Economics 30837, London School of Economics and Political Science, LSE Library.
    11. Ignacio Lozano-Espitia & Diana Ricciulli-Marin, 2017. "¿Está Afectando el Impuesto Predial el Precio de la Vivienda en Bogotá? Un Análisis Basado en la Econometría Espacial," Borradores de Economia 1016, Banco de la Republica de Colombia.
    12. James Gallagher & Daniel Hinze, "undated". "Financing Options for Devolved Government in the UK," Working Papers 2005_24, Business School - Economics, University of Glasgow.
    13. Taranu, Victoria & Verbeeck, Griet, 2022. "Property tax as a policy against urban sprawl," Land Use Policy, Elsevier, vol. 122(C).
    14. Gavin Wood & Rachel Ong & Melek Cigdem, 2016. "Housing Tax Reform: Is There a Way Forward?," Economic Papers, The Economic Society of Australia, vol. 35(4), pages 332-346, December.
    15. Wouter Vermeulen & Jan Rouwendal, 2007. "Housing supply in the Netherlands," CPB Discussion Paper 87, CPB Netherlands Bureau for Economic Policy Analysis.
    16. David Clapham, 2006. "Housing Policy and the Discourse of Globalization," European Journal of Housing Policy, Taylor and Francis Journals, vol. 6(1), pages 55-76, April.
    17. Kumhof, Michael & Tideman, Nicolaus & Hudson, Michael & Goodhart, Charles, 2021. "Post-Corona Balanced-Budget Super-Stimulus: The Case for Shifting Taxes onto Land," CEPR Discussion Papers 16652, C.E.P.R. Discussion Papers.
    18. Turley Gerard, 2022. "A review of Ireland’s Local Property Tax," Administration, Sciendo, vol. 70(4), pages 1-25, December.
    19. Geoffrey Meen, 2013. "Homeownership for Future Generations in the UK," Urban Studies, Urban Studies Journal Limited, vol. 50(4), pages 637-656, March.

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