Should we nationalise the Duke of Westminster?

[budda]

I've been pondering the Duke of Westminster, for those of you who dont know he owns a very large amount of London and makes people pay ground rent. This makes him the 5th richest person in the UK with about £6.6Bn.

Why should he have this? Should the UK government take it back and use the ground rent for social housing?

[Aladdin]

Yes we should.

The concept of one individual owning vast amounts of land in a city and charging ground rent is a fucking obscenity.

[Calvin]

Yes we should. Its not his money, it belongs to the country rather than the Duke of Westminster. What the government decides to do with he land really doesnt bother me, but there is no way the Duke Of Westminster should be so rich because of it.

[budda]

I'm inclined to agree, I dont think however we should just hand over the freeholds, but put them into a trust, reduce the rates by say 15%, and put the money made into social housing.

[carlito]

Agreed.

[Teh_Gerbil]

Originally Posted by Aladdin

Yes we should.

The concept of one individual owning vast amounts of land in a city and charging ground rent is a fucking obscenity.

[Wyetry]

TBH though lots of people own land throghout the UK - he is just rich becuase his ancestors - saw a gap in the building market and built houses, shops etc on thier land. Its not even that much land compared to other landowners its just that it happens to be very well located.

I'm not saying that you shouldnt' necessarily nationalise him but it would then set a precident to renationalise any bit of land going - and i for one want to hold onto my pocket sized piece of england....

[Blagsta]

Originally Posted by Wyetry

TBH though lots of people own land throghout the UK - he is just rich becuase his ancestors - saw a gap in the building market and built houses, shops etc on thier land. Its not even that much land compared to other landowners its just that it happens to be very well located.

You might want to read some history around that, specifically on the enclosures acts.

[Disillusioned]

Originally Posted by budda

This makes him the 5th richest person in the UK with about £6.6Bn.

Why should he have this? Should the UK government take it back and use the ground rent for social housing?

Where do you stop? Why should anyone have a billion? Or a million? Or half a million? Why should anyone make money out of property? If you start with the Duke Of Westminster where do you stop? With someone who rents out their house and lives with their parents?

Marxist chat about seizing land might be interesting, it's thankfully an impossibility - no serious mainstream political party advocates it.

[minimi38]

Originally Posted by Blagsta

You might want to read some history around that, specifically on the enclosures acts.

can my goat graze in your garden please. the duke of westminster took all the other land

[Calvin]

Originally Posted by Disillusioned

Where do you stop? Why should anyone have a billion? Or a million? Or half a million? Why should anyone make money out of property? If you start with the Duke Of Westminster where do you stop? With someone who rents out their house and lives with their parents?

I have no problem with billionaires or people making money out of property. I just don't feel its right for the Duke of Westminster to own so much land in one of the most expensive cities in the world. It belongs to London and the UK, not the Duke of Westminster.

[minimi38]

Suppose there is an issue that the land was originally allocated, somewhere along some family line, as an estate by a monarch in which case the solution would be to sell all the land to private companies. Or do nothing.

[Calvin]

I think the land should belong to Westminster City Council, they can then sell it to or rent it out as shops, offices etc. At least then the money and profits from the land would be in the public purse.

[minimi38]

That land was developed from fields to sought after property by the duke of westminsters faimly. Why not just nationalise anything anyones put work and resources into.

commie

[Calvin]

Originally Posted by minimi38

That land was developed from fields to sought after property by the duke of westminsters faimly. Why not just nationalise anything anyones put work and resources into.

commie

Cos we live in a capitalist society, luckily. However such a large part of prime real estate in our nations capital belongs to the city and the UK.