Community Land Trust

There are 4 commercial sites in Glastonbury earmarked for change of use to housing allocation in the Mendip Local Plan- Lintells Garage, Avalon Motors, and the Somerset County Council depot on Wells Road, and the hand car wash at the top of Street Road. Towns Fund money could be used to purchase some or all of these sites and establish a Community Land Trust to develop truly affordable rental eco-housing, of which there is a critical shortage in Glastonbury.

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5 comments on “Community Land Trust

  1. What we need in this town is jobs not more houses we need a large industrial park like somerton bancombe road site with large employer’s who pay well.

  2. Am I right in thinking that house price inflation has only become an issue after the financial deregulation of the 80s? Before then the vast majority of house purchase lending was conducted by Building Societies, usually mutual,l where their only source of income was the money they attracted from savers as they could not create money under licence from the government and the only they could lend was for house purchase? This would have put a natural brake on house prices as there would have been more of a direct relationship between house price movements and the general public’s capacity to save rather than the peculation we have today.

    The underlying worry about creating money is that of inflation. However, the tax system – if it is used proactively instead of being constantly reduced all of the time – acts as a cooling agent and helps to curb rampant inflation especially if it is targeted smartly at areas of the economy. Also, no one says that the Government has to print the same level of real money in perpetuity: the Government can vary the money creation and tax systems and adjust as needed when the maximum amount of benefit to the maximum amount of people in society is achieved. The tax system redistributes the return on printing money – or ‘investment’ more widely and fairly than returns on private debt.
    The biggest threat to an economy is the rise in credit – debt money produced under license by the private banks. It creates rampant inflation (bubbles) in say house prices that spill over into other areas of the economy such as rent rates and then into commodity and service pricing.

    The biggest risk therefore is if the Government withdraws REAL money from the economy by cutting its wage bills for the public sector, it’s grants for social policy and its support for healthcare via the NHS and relying therefore on the issuance of credit as money.

    Since the Bank of England that issues money is owned and directed by the Government, the Government can never run out of money – ever.

    What is not understandable about any of this?

    The follow on questions for any turned on citizen should be (maybe you can come up with more):

    1. Why would a Government not print real money and leave it mostly to the private banks to do it through the issuing of credit? Clue – what job did your MP have before he/she got all public service spirited. Cui bono? Remember Mrs May printed Money to keep the D U P on side

    2. What are the interests of the private banks and their rich clients and how might they attempt to ensure that money was created mostly by issuing debt? Clue – look at who funds your political party. Again, who profits or benefits?

    3. Why does an English bank note say on it ‘I Promise to Pay the Bearer on Demand the Sum of x Pounds’ and who actually pays that sum – the Bank of England, the Government or Both since they are actually one and the same? The B of E was nationalised in 1946.

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