COMMENT From Mr Charles Bazlinton.
Sir, Robert Zoellick (“Heed the danger of asset bubbles”, November 25) mentions at least five ways being attempted in Singapore to dampen the property price bubble. Strangely he does not suggest that it might be appropriate to increase the annual land value tax (currently 0.5 per cent of land market value) levied by the Inland Revenue Authority of Singapore. As head of the World Bank Group, should he not be suggesting that this type of tax be seriously considered internationally to inhibit property (ie land) price bubbles?
