Successful businesses like Amazon exploit opportunity, which means they deliver outputs that are valued. The role of government is to provide the framework for that success. To enable that with land use and property, government needs to provide a framework that is fit for purpose. This stewardship needs to reflect the long term impact, funding requirement and interrelationship of the many aspects of the built environment. Topically, particularly true if it is also to capture the appropriate tax rate. (more…)
Posts Tagged ‘Mark Prisk’
Asset Management “Best Use” of Government not Development Management
Friday, February 28th, 2014Jonathan Naughton response to Mark Prisk
Friday, January 31st, 2014Mark,
Your opinion piece for Property Week (24 January) raises some interesting questions about how taxation of property could evolve from the current rating system.
You asked what is the difference in activity between a warehouse operated by Amazon and a “click and collect” store run by Argos? (more…)
Mark Prisk – Fifty-year-old rating system is showing its age
Friday, January 24th, 2014Original article can be found on the Property Week website here
Being a fixed overhead, business rates don’t reflect the changing fortunes of a company. So when there’s a downturn, the rates bill bites even harder.
However, for government — central and local — this makes business rates attractive. While other tax revenues rise and fall with the economy, business rates provide the public sector with a steady flow of revenue — currently £26bn. So all governments are very wary of tinkering with the system. (more…)