Liz Peace, chief executive of the British Property Federation, has criticised the government’s announcement on tax increment financing in today’s budget.
Peace said that chancellor George Osborne’s announcement that £150m would be made available through TIF to finance large-scale development in 2013-2014 did not go far enough.
She said: “This amount seems like very small beer after years of preparatory work. It’s also disappointing that, 18 months after TIF was announced as government policy, we have yet to see any detail about how it will work.”
Watch the video for a round-up from Liz Peace on what the Budget means for the commercial property sector.