He argues that a sale would lose a large slice of value on capital-gains tax.

ECONOMIST: News Corporation

Under legislation passed in 1990, a slice of that increased value can be redistributed in kind to the local community, so that others, apart from developers, benefit from planning permission.

ECONOMIST: Local government

The best companies take this data and cut and slice it so they can serve it up to consumers in a way that adds the most value.

FORBES: Alex Bogusky, On The Next 510 Years In Advertising

Moreover, compared with 1999, a bigger slice of those capital gains has, in effect, been turned into cash by households borrowing against the higher value of their homes.

ECONOMIST: The American economy