LAND RESOURCE Research Group
		EVENTS
“ advocating land value equity ”
______________________ home ______________________ events ______________________ media ______________________ land ______________________ publications ______________________ links ______________________ contacts ______________________		. Recovery Sustainability and Growth There is a way out of boom bust economics: Unveiling a new, efficient and fair taxation policy to replace misplaced and destructive tax policies Lecture and debate Trinity College, Robert Emmet Theatre, 7.30 PM, Tuesday, 9^th March, 2010 Site Value Tax is a new government policy and if effectively implemented it can unpin recovery, boost sustainable growth and most importantly regulate economic activity to stop property based bank and house crashes happening again. Recovery Sustainability and Growth There is a way out of boom bust economics: Lecture and debate Trinity College, Robert Emmet Theatre, 7.30 PM, Tuesday, 9^th March, 2010 March 2008, at the first Site Value Tax lecture and panel discussion in Trinity College Fred Harrison clearly predicted a rapidly approaching bank and property crash caused my . Many commentators dismissed this as exaggeration. April 2009, at the second Trinity lecture, Fred Harrison, with Constantin Gurdgiev and others, outlined a policy which would prevent future bank and property Boom / Bust disasters. Yet many commentators, while acknowledging the accuracy of the earlier predictions, do not appreciated the efficacy and elegance of the proposed policy of Site Value Tax November 2009, Site Value Tax is introduced as Government policy and becomes the preferred property tax. Ministers acknowledge that it will take expertise and time to implement . March 2010, in the third , and possibly last, Site Value Tax lecture and panel presentation, Fred Harrison , Constantin Gurdgiev, and other speakers with international experience of SVT implementation set out details of this new policy and answer questions on its economic potential to promote economic growth and effective regulation. Harrison describes SVT as a positive and practical policy citing empirical evidence from and from a speaker from Denmark who describes their SVT system. He contends the mere announcement of this fiscal reform will facilitate the early recovery of the Irish economy as it is the only counter-cyclical policy worth the name and he stress the economic benefits that arise when the deadweight losses of conventional taxes are eliminated. Gurdgiev emphasizes the importance of stability and predictability of tax revenue and argues that reliance on transactions-linked taxation, (Stamps, VAT and capital taxes), has led to a series of significant fiscal miscalculations in Ireland. These problems present significant challenges to the policymakers interested in shifting Irish fiscal policies out of the traditionally pro-cyclical pattern of public expenditure and investment. Furthermore, lack of predictability of returns places significant risk premium on publicly-financed long-term investment projects and government bonds. He argues that the alternative to transactions-geared taxation is a system of taxes that relies on the longer-term valuations of underlying assets, independent of the asset ownership and independent of turnover in the markets for assets creation or resale. He shows that a longer-term asset basis of taxation, simulated, at this stage, using a blend of longer time horizons for specific existent taxation measures, as consistent with the site value tax , can resolve most of the problems caused by the existing taxation strategy. Last years TCD lecture RECOVERY - CAN IRELAND BE FIRST? THERE IS A WAY OUT OF BOOM BUST ECONOMICS Trinity College, Walton Theatre, Thursday, 2^ndApril, 7.30 pm, €15 at door Fred Harrison, main speaker, (website) author of Boom /Bust, 2010, discusses with a panel of prominent planners, policy makers and economists Damien Kiberd, (Chairman), economist, author and journalist Constantin Gurdgiev , Research associate Trinity College Dublin Tom Dunne, Head of Real Estate and Construction Economics, DIT James Pike, President Royal Institute of Architects Ireland ( 2006/7) Four years ago Fred Harrison published ‘Boom Bust; Depression 2010, Housing and Banking Crisis’. In March 2008 (details below) a packed audience in Trinity College found Harrison’s explicit prediction and explanation of how Ireland faced an inevitable and serious property related banking crises hard to believe. Now Fred Harrison returns to debate in public, with three experienced economic commentators, his “positive and practical proposals for a sustainable recovery and stable economic growth in Ireland”. TRINITY DEBATE 2008 IS THERE A WAY OUT OF BOOM BUST ECONOMICS? Trinity College , Robert Emmet Theatre, 11^thMarch, 2008 Damien Kiberd, (Chairman), economist, author and journalist Tom Dunne, Head of Real Estate and Construction Economics, DIT John McCartney, Head of Research, Lisney Sean Murphy, Director of Policy, Chambers Ireland James Pike, President Royal Institute of Architects Ireland ( 2006/7) The talk and panel discussion, was chaired by economist and broadcaster, Damien Kiberd, took place in the Robert Emmet Theatre, Trinity College, on Tuesday, 11^th March at 7.30 p.m. The event was organised by Land Resource Research Group and Trinity Political Society and sponsored by the School of Philosophy and Economic Science. Fred Harrison has accurately predicted recessions and resurgence in the economy based on a recurring 18-year business cycle. His recent publication, Boom Bust: 2010, foresees trouble ahead. However, Harrison does go on to identify clear causes and achievable remedies. When challenged, he denies his economic policy is a panacea. He convincingly demonstrates that his approach would alleviate a range of economic problems associated with the property market: high priced homes followed by negative equity; ineffective first time buyers’ grants; stamp duty limiting house transactions; planning corruption; inadequate provision of public transport; poor amenity infrastructure; and property related bank and credit crises. A model for rescuing the economy during recession years will be elaborated. A corruption-free politics is possible, under a new fiscal regime that would re-base civil society on the principle of both fairness and efficiency. And Harrison will offer his forecast for the Irish economy, and society, anticipating the prospects during the upswing of the next property cycle in the light of the economic threat from the Asian giants. Harrison’s analysis also deals with other emerging matters of topical economic interest: the newly appointed Commission on Taxation, the green paper on local government reform and developments in rates revaluation TOP