Landowners could be faced with yet another tax if the government decides to follow the recommendations set out in the Barker report published this morning.
Author of the report and member of the Bank of England's Monetary Policy Committee, Kate Barker, suggests the government should "use tax measures to extract some of the windfall gain that accrues to landowners from the sale of their land for residential development". This would not only affect people who own a piece of land, but it would also hit freeholders seeking building permission for further developments. Landowners might also suffer another blow as Barker believes the government should, for example, consider to increase planning fees in order to release and strengthen local pl...
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