The Tory Bow Group have come up with an interesting way to replace council tax and, er, capital gains, inheritance tax, stamp duty, TV license... it's a 1% annual tax on the value of your property. It's surprisingly simple, and it's surprisingly socialist, radically shifting the tax burden away from the north and to the south, where house prices are higher. The Guardian suggests David Cameron, and his wealthy London based supporters, might be less than delighted with the Bow Group's ideas.