Thursday, March 23, 2006

Budget 2006: Grant Thornton's analysis

Planning gains supplement and brownfield land - a no-score draw

Property developers and landowners who were hoping that the Chancellor would drop the proposal to tax the uplift in land values when planning consent is obtained will be disappointed that the Planning Gain Supplement (PGS) is still on the agenda. A further announcement is expected toward the end of the year, which is likely to mean the Pre-Budget in November or December.

Cane said "There is faint hope in the words 'discussions with stakeholders will continue' that the government will modify or even abandon its proposals."

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