[an error occurred while processing this directive]
[an error occurred while processing this directive]
On-Air Now
Listen Live

Land and property tax 'no burden' to construction industry

Mon, 06 Apr 2015

The decision to double land and property tax is a "timing issue" that shouldn't be a major burden to the construction industry and property developers.

That was the message delivered in a tense public meeting last week to discuss the measure - which has been introduced in this years budget.

The Treasury and Economic Development Minister's came in for stinging criticism from the gathered crowd, which represented all the major players from the industries set to be affected.

Minister's Teare and Skelly heard claims that it would disincentivise people from investing in the Island now that it's "lost its competitive edge".

There were also claims it would act as a real deterrent to private investors getting involved with the Douglas Masterplan - something Minister Skelly refutes:


  • Laurence Skelly


Subscribe to get Energy FM News direct to your mobile device

You can get Energy FM News delivered direct to your mobile device using one of the following methods.

  • In the Apple News App on iOS search for Energy FM IOM and then just add it to your favourites
  • In the Google News & Weather App just search for Energy FM and then add us as a customised section
  • If you use an RSS Reader then just add our feed to your app, click here for our news RSS feed