The left-wing Labour Party is reportedly planning on forcing landowners to sell their land at cut-rate prices to force more home building.
In a return to form, the Labour Party is reportedly eyeing a socialist-style scheme they claim will alleviate the ‘housing crisis’ by using the long arm of the state to force the sale of privately-held land at lower-than-usual prices.
According to a report from the Financial Times, Lisa Nandy, Labour’s shadow levelling-up secretary, is prepping plans to change the rules surrounding compulsory purchase orders (CPO), which allows government bodies to acquire land without the consent of the owner under circumstances in which it is deemed necessary to provide for the public good, in a similar manner to eminent domain in the United States.
At present, landowners who face such orders are entitled to a “hope” premium on their property, meaning that their land is valued at a price assuming that it would go towards development and therefore far more valuable than an average plot of land, the higher price compensating owners for having their land taken from under their feet.
Poster Comment:
The problem is immigration. The UK is smaller than Wyoming but they get more immigrants every year. That makes housing scarce.