Political online game and economic simulation

By how much, would this reform reduce investment, the cost of living, and GDP? Does it affect unemployment? Does it result in slower GDP growth in the long term? Etc.

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How much state revenue does it generate?

I'm not sure, since I've never implemented this reform before, but it seems like doing this would reduce private consumption and the commodity index, thus lowering growth and inflation. I think there's a possibility capital investment could tank, since a lot of it could be land based. Otherwise I'm not sure of the in game effects.