Michael, As you are surely aware, to suddenly make a 100% change to the method of tax collection is impossible and so propoals for LVT along with all other kinds of tax reform must be introduced gradually and with care to see who benefits and who gets hurt. LVT is no different in his respect and its introduction as a replacement for other forms of taxation (to replace the present income tax with what a land-owner would then pay as LVT is not necessarily going to hurt him/her). One could start by basing the tax on perhaps only 5% of the ground-rent and work up on an annual basis of the same amount untill after 10 years there is 50% of the rent being passed to the government instead of to the land owners and monopolists. As the effects of the tax reform take hold there will be those whose present tax payments are not sufficient to be fully covered by LVT and in the main these are big coporations and land speculators whose land is idle or not being fully used and is waiting for sale after the planning of local developments has occured and the price has jumped up. I don't feel sorry to see them hit! These speculators are the ones who are hindering the economic recovery becaue in spite of the drop in land prices they are still holding out till times improve. Once their cheap land is returned to the market, there is some hope of the production process taking off due to the lower rents and reduced production costs. Both raised employment figures and cheaper goods will immediately result. Mortgage debts have nothing to do with reduced land values, but simply with bad investments and poor banking. As LVT is introduced there will be a tendency for the present land prices to drop, so it is necessary to pass leglislation to help the present home owners who are only some of the speculatos, to be able to reduce their occupancy of useful land by its sale and loss but not by its abandonment. Having something back from the land is better for all parties than walking away with nothing. By gradual change, the numbers of speculators (who are already aware that there are risks) would turn their attention elswhere and leave the land to those who can use it. The reduced production costs and greater demand for cheaper goods plus greater employment opportunities on newly released sites, will benefit so many that the loosers will not be very significant and they may even have to do some honest work instead of waiting around for the money to roll in!