I'm not entirely sure it is "basically how" the London/UK tax system works ? Perhaps you could elaborate.
Local government is ultimately funded by central government, which is (as we've seen from the present UK government) subject to political whims as to who gets what and how much (Tories favouring Tory seats/councils).
I suspect you might have Council Tax in mind, but I'm not entirely convinced that is "basically the same thing" either.
The purpose of the hometown tax is wealth transfer to less populated, poorer regions. In that sense, the reciprocal gifts etc. are just a funny implementation detail.
Or the reciprocal gifts, or ....
I'm not entirely sure it is "basically how" the London/UK tax system works ? Perhaps you could elaborate.
Local government is ultimately funded by central government, which is (as we've seen from the present UK government) subject to political whims as to who gets what and how much (Tories favouring Tory seats/councils).
I suspect you might have Council Tax in mind, but I'm not entirely convinced that is "basically the same thing" either.