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The current government, at least, will never do this because it would never undermine the interests of those who already own or have 'banked' prime land. This is the real story behind much of the 'housing crisis'. Given a sort-of-airing here:
https://www.theguardian.com/society/2015/sep/02/britain-farmland-tax-haven-reform
Exactly.
I say go all out and let councils buy ransom strips at current value and sell them back to the developers... under condition that the money must be used for social housing. Boom.