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26/08/2008
Tax on empty buildings has 'caused outrage within the industry' |
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The public sector is suffering "almost as badly" as private property investors from the reinstatement of rates for empty buildings, propertyweek.com has reported.
Empty rates relief has been lifted by the government in a bid to raise £1 billion and the move has "caused outrage within the industry".
The British Property Federation (BPF) has said there should be 50 per cent relief reintroduced to help businesses cope with the current economic conditions.
Commenting on the government's decision to reintroduce rates for empty buildings, a spokesman for the BPF said: "It' clear from evidence being gathered through our hotline that this is hitting public sector landlords just as badly as private ones and their occupiers. It is a scandalous waste of public money."
He went on to explain that regeneration schemes will collapse as a result of the decision and by taxing empty property the government will simply "compound the misery felt by many".
While a Communities and Local Government spokesman has said that there are currently no plans to reverse the changes on tax relief, the situation is being kept under review. |
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