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Scottish Property Federation applauds focus on economy

Scottish Property Federation applauds focus on economy

In the week when three of Scotland’s main political parties launched their manifestos for the Holyrood elections, the Scottish Property Federation (SPF) has welcomed their clear focus on economic development.

With just the incumbent Scottish National Party’s manifesto to be published next week, director of the Scottish Property Federation, David Melhuish, said:

“We are pleased to see the emphasis given to the economy, employment and competitiveness.  Unless our economy is given the shot in the arm it needs then prosperity and ultimately public services simply will not be sustained. 

“A number of key proposals are evident from the policies promoted thus far, including Labour’s statutory requirement for local authorities to promote economic development, coupled with incentives for local authorities to promote growth. 

“These proposals have been advocated by the SPF for some time and we are pleased to see them included amidst the proposals.” 

Scotland has been a vanguard for tax increment financing (TIF) in the UK, which has been instrumental in unlocking key developments such as the Edinburgh waterfront and the Ravenscraig development in North Lanarkshire. The SPF is pleased to see cross party support for the continuation of TIF, as well as planning reforms intended to drive the economy. 

However, David Melhuish warned that one measure of concern is Labour's reference to reviewing current business rate relief policies. 

He said: “The fact is that business rates relief where there is market failure, such as empty property rate relief, is a lifeline for many businesses and indeed the public sector itself.  We must be careful not to penalise failing businesses during this prolonged economic downturn. 

“The result of removing similar relief in England has been catastrophic with many properties demolished and severe hardship for many smaller businesses.”

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For more information or to organise an interview please contact:

Paul Sweeney, Media Assistant, Scottish Property Federation, psweeney@bpf.org.uk  – 07841 732194