Everyone seems to be jumping on the bandwagon of land value capture, but I doubt it will ever reach the statute book. The implications of denying some people (but not others) the increase in the value of their land arising from planning permission will raise all sorts of practical and legal issues - as well as ethical ones. This seems like the carrot and stick approach, but without the carrot.
If those who benefit from property price increases as a result of public transport improvements are going to to be taxed why stop at those with development land? Could existing homeowners could be taxed too on their windfall? Of course not, but there is no logical distinction.
The sooner that this Aunt Sally is knocked on the head, so we can focus on really addressing the issue of providing more housing, the better.
The land value capture proposals that are now on the table