Financial Times:
The secret of Singapore's development master plan
12 July 2017
Letter from Edwin Loo, Singapore
Singapore is one of only a few jurisdictions in the world to have successfully implemented a comprehensive system of land value capture through betterment taxes and revenues from the sale of government-owned land. The revenues from this system have worked to create a virtuous cycle where development helps to pay for itself by unlocking the funds necessary to bring forward the infrastructure needed to support further development. Professor Paul Cheshire of the London School of Economics has rightly observed in his response to the recent Housing White Paper, the UK desperately needs a rules-based system similar to Singapore’s Master Plan that provides clarity and certainty.