The political economy of land value capture in the UK: rent and viability in Salford’s new municipalist turn

Purcell, Thomas and Ward, Callum ORCID: 0000-0002-1768-1725 (2022) The political economy of land value capture in the UK: rent and viability in Salford’s new municipalist turn. Environment and Planning A. ISSN 0308-518X

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Abstract

This paper contextualises the political economy of land value capture (LVC) within the shift to an increasingly financialised, rentier-dominated capitalism. Contributing to an emerging dialogue between social constructivist planning literature on performativity in LVC and the critical political economy literature on rents and rentiership, we overview Salford's planning policy trajectory in recent decades in order to highlight how the UK planning system has increasingly been reconfigured as a mechanism to increase land values. In doing so, we explore both Salford's shift to neoliberal planning and its municipal socialist counter-turn in recent years, reflecting on how the centrality of LVC to the latter still leaves it dependent on rentier logics. In doing so, we locate these policy conjunctures within the governance dynamics of Britain's transformation into a rentier economy; wherein the stimulation, disbursement and capture of land values have become central objects of spatio-economic policy.

Item Type:	Article
Official URL:	https://journals.sagepub.com/home/EPN
Additional Information:	© 2022 The Authors
Divisions:	Geography & Environment
Subjects:	G Geography. Anthropology. Recreation > G Geography (General) H Social Sciences > HD Industries. Land use. Labor
Date Deposited:	22 Sep 2022 16:24
Last Modified:	12 Dec 2024 03:17
URI:	http://eprints.lse.ac.uk/id/eprint/116664

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