Ireland's Chambers of Commerce have adopted the UK Liberal Democrats' policy "Site Value Rating" as their way of restoring balance - and independence from state funding - to local authorities in Eire.
Thanks go to Pennsylvania's Center for the Study of Economics publication, appropriately named "Incentive Taxation" for leading us this Press Release on the Irish Chambers' site, where their Chief Executive John Dunne says:
"...Where commercial rates currently generate around €1bn per year from 8pc of the property base, the site value tax should be geared to generate at least €2bn and this revenue should go straight to local government. ... The local government fund from the central exchequer could then be abolished and local authorities could have control of their own budgets.”
This is pretty amazing when you consider that Ireland's local tax reform debate was non-existent until two years ago, when the Irish equivalent of the New Economics Foundation - Feasta - came out for LVT. The Henry George Foundation of Great Britain jointly hosted a conference in Dublin in October 2003, since when SVR has dominated the debate.