Best of the Spectator Reality Check: Rory Sutherland: Britain isn’t working – here’s how to fix it
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Nov 18, 2025 
Rory Sutherland, a renowned advertising executive and Spectator columnist, dives deep into Britain's economic woes. He argues that the real issue isn't income or taxes, but the obsession with property and rent extraction. Rory advocates for a land value tax, suggesting it could rebalance the economy. He links unaffordable housing to diminished ambition and discusses the distortions created by landlords in politics. Sutherland challenges the notion that housing is a safe investment, pushing for a shift in consumption towards goods and services instead.
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Wealth Differs From Income
- Wealth and income are fundamentally different and wealth inequality dwarfs income inequality.
- Property gains often reflect sitting on land, not productive effort, and are barely taxed compared with income.
Start A Modest Land Value Tax
- Introduce a small recurring land value tax and reform stamp duty and council tax to discourage hoarding.
- This would reduce property prices and shift savings into productive consumption and investments.
Housing Crowds Out Consumption
- Housing has crowded out spending on goods and services compared with the 1950s when consumption and housing costs were similar.
- Excess allocation to housing creates economic distortions and reduces overall consumer spending.
