The Government will legislate in the 2006 Finance Bill to create Real Estate Investment Trusts (Reits).
As set out in the 2005 pre-Budget report, the Government’s objective for the UK Reit will be to improve the efficiency of both the commercial and residential property investment markets by providing liquid and publicy available investment vehicles. Brown said this would encourage institutional and professional investment to support the growth of new housing, as well as the Government’s wider objectives for raising productivity.
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