§ Dr. KumarTo ask the Secretary of State for Transport, Local Government and the Regions what plans there are to(a) cut taxes on brownfield developments and (b) introduce incentives to encourage builders away from green fields. [48589]
§ Ms KeebleBudget 2001 introduced a tax relief for cleaning up contaminated land, 100 per cent. capital allowances for developing flats over shops and a number of VAT reliefs to encourage conversions and the renovation of empty property. From 30 November 2001, land and property transactions worth up to £150,000 in the UK's most deprived communities have508W also been exempt from stamp duty. The aim of this fiscal package is to encourage and create incentives for the re-development of brownfield land and re-use of empty property, helping to protect greenfield sites.
Any further changes to taxation policy are a matter for my right hon. Friend the Chancellor.