"Hong Kong is not a theory ! A 2 to 3% LVT would be similar to council tax now and thus could replace it. As you increase the LVT you progressively eliminate all other taxes and land then is not a speculative financial asset. There is no tax avoidance or capital flight, rather capital wants to flood in. Also you don't have to put LVT on all land at the same time. You could start by just targeting land with planning permission." - Adrian