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Reducing land values is essential first step

Rather than lower house prices being an essential first step towards restoring our international competitiveness and laying the foundations for recovery (Irish Independent, May 14), the essential need is the lowering of the land values on which houses and other buildings stand.

This can be done easily and expeditiously when site value taxation is brought into effect. Such a step will stop land speculation and its concomitant booms and busts.