MPs pressure Prime Minister to scrap empty property tax

Prime minister Gordon Brown is under pressure from ministers to scrap a tax on empty property that has seen developers demolish buildings they can’t sell.

60 Labour MPs have signed motions supporting the abolition of the tax, which was introduced in April.

John Nicholls, chairman of urban regeneration company chief executives, said cities were starting to “look like broken teeth” as buildings were being wrecked to avoid the tax.

According to the Financial Times, the tax was introduced to punish developers who did not let buildings as they waited for rents to rise during the boom.

But since the bust, vacancy levels have soared, forcing cash-strapped developers to raze buildings to save a buck.