ABSTRACT
The 1962 Act was a consolidating Act, which effectively meant that the 1947 Act and the subsequent amendments were incorporated into the new legislation. The vexed question of ‘windfall gains’ arising from planning permissions was once again on the political agenda and prior to the 1964 General Election, the Labour Party’s election programme contained a proposal to set up a Land Commission which would be given power to acquire all land required for development purposes on the basis of existing use value, plus an increment to the owner (assumed to be 60%). When elected, the Labour government found it impracticable to acquire all development land and therefore it announced it would set up a Land Commission which would have the power to acquire selected land at existing use value, plus part of the development value. Land not acquired by the Commission would change hands at market value and to overcome the problem of two price systems a levy of 40% of the net development value would be paid to the Exchequer. The Land Commission came into effect on 1 February 1967 but no betterment levy was payable on development commenced before 6 April 1967. The result was predictable – a vast number of hasty starts to development proposals ensued and, as a result, the actual sum collected was comparatively small. With a change in government the Act was repealed in 1970.
