Land sale runs into a ditch, as does Singapore’s competitiveness

[Confuseous]

As the report pointed out, our government land sales system contains a bias pushing up prices and serves to protect those who have bid foolishly high in previous rounds. In boosting average land values, it also increases property taxes. It’s a system that maximises revenue for the government and lays out a safety net beneath expensive developers, at the expense of Singapore’s long-term competitiveness. This example also undercuts the government’s claim that land values are left to market forces.

- http://yawningbread.wordpress.com/2...o-a-ditch-as-does-singapores-competitiveness/