Mandelson slammed for vacant property comments
Business secretary Mandelson accused of being out of touch with reality and misunderstands how business works
Business secretary Mandelson accused of being out of touch with reality and misunderstands how business works
Business secretary Lord Peter Mandelson outraged small businesses and trade
bodies earlier this week by claiming that tax from empty commercial property’s
was ‘good news for tenants.’
The bombsite Britain tax, named as landlords have demolished property rather
than go under from the heavy tax costs, was brought in by Gordon Brown in April
last year to raise £1.3bn,
the
Liverpool Daily Post reported.
Trade bodies and SMEs claimed that Mandelson was ‘detached from reality’
while other MPs have shown their support by joining the British Property
Federations national campaign to stop the empty rates tax.
Liz Peace, chief executive of the British Property Federation, said: ‘It’s
worrying that people running the country have such fundamental misunderstandings
of how business works. You can’t tax something earning no money and expect that
to conjure up tenants when demand is falling through the floor. No one’s asking
for handouts, just a reality check. We must stop this empty rates madness.’
Peter Cosmetatos, BPF director for finance and investment, said: ‘Nobody
could have predicted the credit crunch when the rate relief cut was first set
out in the 2007 Budget, but since the cut actually took effect in April we have
been in a dire situation that could be made much worse should the industry
continue to be unfairly penalised in this way. There is no value in keeping a
property empty – particularly in a downturn.’
The numbers you crunch tell a story. Your expertis...
16yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article