The kenny report advocated that the state would purchase agricultural land at existing use value plus 20% on rezoning.
The benfits of this would be less corruption, less willingness of farmers to farm houses, and the state would accrue the benfit of zoning, as its the state that provides the services. Also would allow for much better planning, and land use.
It was never adopted here (wonder why? ) but Singapore obviouly read it, and implemented it. Hong Kong has a simalr situation. Both goovernments can hold down taxes as they have large income streams from the property (which is only ever sold on a 99 year lease basis).
“This report you’ve written Mr. Kenny is very good - but wouldn’t it be better if instead of paying agricultural values for the land, we paid 10-50 times that to some friends of ours? At the taxpayer’s expense of course…”