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Vacant land tax to test WG powers.

THE Welsh Government will put forward the vacant land tax idea to test the Wales Act 2014 powers, according to Cabinet Secretary for Finance Mark Drakeford.

The Cabinet Secretary will today set out the next steps for proposing a new Welsh tax as part of the tax policy work plan for 2018.

Since announcing a shortlist of four tax ideas - a social care levy; a vacant land tax; a disposable plastics tax and a tourism tax - alongside the draft Budget in October, the Welsh Government has been examining the case for each.

Although the vacant land tax idea will be used to test the Wales Act powers, work will continue on the others.

A vacant land tax has been chosen both because it could help to spur development, and because it could help prevent dereliction and aid regeneration.

Prof Drakeford said: "Housing is a priority for the Welsh Government. A tax on vacant land could prevent the practice of land banking and land not being developed within the expected timescales.

"The Republic of Ireland vacant sites levy provides a useful starting point for how a vacant land tax could work in Wales. That existing model and the relatively narrow focus of the tax make this the most suitable of the four shortlisted ideas to test the Wales Act."

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Publication:Daily Post (Conwy, Wales)
Geographic Code:4EUUK
Date:Feb 13, 2018
Words:218
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