5. Statement by the Cabinet Secretary for Finance: Vacant Land Tax

Part of the debate – in the Senedd at 5:25 pm on 15 May 2018.

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Photo of Mark Drakeford Mark Drakeford Labour 5:25, 15 May 2018

There are sites in Wales that cannot yet be brought to market. They wouldn't be saleable in the state they're currently in, so the stalled sites fund is intended to help those who have possession of those sites to be able to do the necessary work that would allow them to be turned into profitable use. So, they are a couple of steps behind where a vacant land tax would come into things because, as I said in my statement, it is not the purpose of the vacant land tax to penalise anybody who is making every effort to bring a site that has the necessary permissions into profitable use. The stalled sites fund is for sites that are not yet in that condition, and we hope to create a sort of chain that will bring them to the market and to profitable use in due course.

I agree, again, with what Simon Thomas said about when the Assembly comes to consider a vacant land tax and we have the consultation results and so on: it will be important to put that in the wider context. And that's where the work that my colleague the Minister for Housing and Regeneration has embarked upon in an independent review of affordable housing, and how we do more in that area in future, comes in. That will help us to create that wider context in which this particular tool and the contribution that it can make can be properly assessed.