The Department of Finance has opened a public consultation on the possibility of taxing unused development land.
In a consultation paper issued today, the Department raises the question of whether new tax measures should be introduced to encourage landowners and developers to build houses now, rather than wait for higher prices.
The Department of Finance is concerned that developers and landowners are not moving to build houses, and are instead waiting for prices to rise further.
In response it has opened a public consultation on whether unused development land should be taxed, to encourage housebuilding.
Why launch a consultation process? I am convinced that a carrot and stick approach is required to get new houses built. Reduce build costs by reducing levies, getting rid of labour agreements, etc on one hand. On the other hand tax the shit out of zoned land where planning has not been sought and lands where planning has been received but construction works have not yet been finished