'Accelerate land into productive use'
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Vacant land tax aimed at boosting its 'productive use'

Finance Secretary Mark Drakeford says plans for a tax on vacant land is aimed at boosting house building and regeneration.

It would apply to land where permission to build has been granted - or land that is within a local development plan - but where no work has been carried out.

Critics accuse some businesses of "land banking" - hoarding land until it increases in value before building on it.

But house builders have raised concerns about the proposed tax as a barrier to development, and penalising some landowners for delays outside their control.

  • 13 Feb 2018
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