New homes tax ‘could raise £5m’

Tuesday 10th February 2004, 12:00AM GMT.

A TAX on private residential developments, which could swell States coffers by as much as £5 million a year, has been suggested by the Constable of Grouville, Dan Murphy.

Mr Murphy raised the subject of introducing a developer’s tax in the Budget debate and he thinks it is a subject worthy of further investigation.With land values rising significantly once planning permission is forthcoming, Mr Murphy said that the public purse should profit from a development tax of 20 per cent.’I think there should be a tax for the gain value when it has not cost anyone anything to achieve that gain,’ he said.

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