You are here

John Sidoti, Land Tax, and Corruption

The NSW Sports Minister John Sidoti has stood down whilst the Independent Commission Against Corruption (ICAC) investigates him for land purchases and planned developments near planned new train stations and accepting donations from the very property developer that he has a 10% investment in. Through a family trust of course.

As anyone who pays attention to such things, if one owns land near infrastructure, the price increases. As a fixed and natural necessary item of supply, economists (both of the capitalist and socialist variety) have been pretty much agreed that a tax on resource holdings like this prevents such "rent seeking" behaviour.

John Sidoti has been very good at advocating what appears to be public opinion for private benefit, once declaring land tax - the very tool advocated by economists worldwide - to be 'public enemy number one'.

John Sidoti declares that he is "a man of integrity". And who knows? Maybe in his personal dealings he is, at least some of the time. But when it comes to feathering his own nest with insider knowledge, and the lure of economically-damaging rent-seeking behaviour, it's hard for him to declare "I have done nothing wrong".

You have John, even if you don't realise it.

Commenting on this Blog entry will be automatically closed on November 19, 2019.


Nota bene: A similar case has occured in Queensland.

Whilst the CCC said it found no information to support a reasonable suspicion of corrupt conduct, it also said that it should be an offense.

Corruption is but a subset of rent-seeking behaviour in this case. Even if it was *all* above board, there would still be that problem.