In reference to Michael O’Flynn backs tax on those hoarding development land by
Ciarán Hancock on June 21, 2017 in the Irish Times.
Michael O’Flynn, a property developer, gives support to a tax to those who are hoarding land and waiting until the housing prices increase. This tax has to be carefully composed in order to avoid taxing those who can’t build because of issues surrounding planning, lack of infrastructure, or zoning. This would be difficult to police and enforce due to fraud or proof of these issues.
O’Flynn also suggested the government to create a government separate entity to help coordinate the planning and zoning issues as well as manage infrastructure spending. This is so the two processes can better work together and help combat the housing issue.
If the government will reduce the VAT 4.5% from 13.5% to 9%, Michael O’Flynn …