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When London's Jubilee Line was built at a cost of about £2bn of Londoners' and general taxpayers' money, a study found that residential and commercial property values along the extension rose by an estimated £17bn.

That omits any indirect benefit accruing to the businesses along the route from having better employee access and time-keeping etc.

I doubt whether the increased assessments remotely approach a reasonable share in the windfall gains made by landowners at everyone else's expense.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Wed Jan 7th, 2009 at 11:39:27 AM EST
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