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Doubt over cost effectiveness of brownfield development

Tax incentives designed to encourage brownfield development are ineffective, said the British Property Federation (BPF) in a letter to HM Treasury this week.

The BPF wants to see current legislation expanded to recognise the wider range of costs incurred in bringing derelict land back into use.

Particular limitations over brown field relief mean that there is a large amount of uncertainty about whether any savings would be made.

Gareth Lewis, BPF director for finance and investment, said: "It is clearly important that the government, in developing these proposals, are minded to the difficulties and expenses of making a claim under the current regime.

"The new proposals must be well publicised to the industry and the benefits of the system must be tangible and easily claimed. This will significantly improve the incentive offered to owners of derelict land," he said

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