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Ed Miliband identified similar issues and criticized developers for 'land banking', the process whereby housebuilders buy up land and fail to build on it as they wait for it to rise in value.

The free market answer to the malfunctioning planning system is simply to remove it, loosening regulations as much as is politically possible to make it easier for developers to build more, smaller homes and therefore bring prices down. This is ridiculously simplistic. It's derided even by right-wi…

the Beveridge Report of that year, which underpinned the future of the welfare state by taking aim at the five social evils of want, disease, ignorance, squalor and idleness

giving permission for land to be built on immediately makes it soar in value (this is known as 'betterment')