The Welsh government has decided to put forward a tax on vacant land as the preferred option for testing its powers under the Wales Act 2014 to propose new devolved taxes. The vacant land tax was one of four new tax ideas shortlisted in October 2017.
Welsh finance minister, Mark Drakeford, said the government had chosen a vacant land tax over the other ideas for its potential to incentivise more timely development, help prevent dereliction and aid regeneration.
‘Housing is a priority for the Welsh government’, Professor Drakeford said. ‘A tax on vacant land could prevent the practice of land banking and land not being developed within the expected timescales’.
The minister also referred to the vacant sites levy in the Republic of Ireland as a possible model for how such a tax could work in Wales.
The Welsh government says it will also continue to work on each of the other three tax ideas suggested in October: social care levy; disposable plastics tax; and tourism tax.
The Welsh government has decided to put forward a tax on vacant land as the preferred option for testing its powers under the Wales Act 2014 to propose new devolved taxes. The vacant land tax was one of four new tax ideas shortlisted in October 2017.
Welsh finance minister, Mark Drakeford, said the government had chosen a vacant land tax over the other ideas for its potential to incentivise more timely development, help prevent dereliction and aid regeneration.
‘Housing is a priority for the Welsh government’, Professor Drakeford said. ‘A tax on vacant land could prevent the practice of land banking and land not being developed within the expected timescales’.
The minister also referred to the vacant sites levy in the Republic of Ireland as a possible model for how such a tax could work in Wales.
The Welsh government says it will also continue to work on each of the other three tax ideas suggested in October: social care levy; disposable plastics tax; and tourism tax.
