01 February 1999
Rich farmers ‘milk the system’
A CAPITAL gains tax should be levied on farmers who make vast amounts of money by selling their land for development, writes columnist Polly Toynbee in The Guardian.
Most of the money made after a local authority designates land on the urban fringe for development should go to the local community, believes Ms Toynbee.
Her call comes as the Chancellor is planning his budget and looking for means of raising money.
Hampshire farmer Hugh Oliver-Bellasis recently made a reputed £50 million from selling 100 acres (40.5ha) of his farmland for development.
- The Guardian 01/02/99 page 16 (Comment)