The latest New Statesman has a fascinating list of 50 ideas for Brown's Britain.

The NS asked the five leading left wing think tanks to produce a ten-point plan.

"Compass" is pointing in the right direction. One of their ideas is to tax land: "It is often public investment in schools, roads and other supply-side measures that creates significant UNEARNED gains by landowners. A land tax would stabilise house prices, slow speculation and rebalance regional and wealth inequalities."

A prominent local Professor of Politics, based at Nuffield College, Oxford, has written an excellent paper for Compass. It's called Thinkpiece number 2 - THE CASE FOR LAND VALUE TAXATION - and it's by Iain McLean.

An interesting posting last November by Daniel Elton, Compass Youth, suggested a fund for local councils to become partners with first time buyers in purchasing their own property. When the residents sell, the public sector would receive a return on its investment. Land Value Tax could be a possible source of funding.

It's vital to stress that an annual land value tax would NOT be an extra tax. It could replace council tax, business rates and stamp duty.