TaxCorporate TaxBudget ‘will threaten Heathrow development’

Budget 'will threaten Heathrow development'

Loss of industrial buildings allowances will add hugely to Heathrow bill

The withdrawal of
tax
relief for industrial buildings
could put the development of Heathrow in
time for the Olympics under threat, BAA has said.

The chancellor announced he was dropping the relief in the Budget, and the
cut will mean a drop in income of £150m a year for BAA, the
Sunday
Telegraph
reported.

A BAA spokesman said: ‘We
have a £10bn investment programme that we want to invest… however, we have to be
incentivised. We are not in a threat game, but it could put the Olympic Terminal
[Terminal 2] at risk for 2012.’

Further reading:

Read
the Sunday Telegraph story

Investment
blow to manufacturing

Profile: Margaret Ewing,
Deloitte vice-chairman

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