EMPTY PROPERTY RATE RELIEF

That this House urges the Government to exercise its power, as given in the Rating (Empty Property) Act 2007, to reintroduce empty property rate relief immediately in response to the world economic downturn and worsening conditions in the property market; notes that empty property rate relief is a tool used to stimulate investment and growth in the property market during times of economic difficulty; and further notes that the withdrawal of the relief is having unintended consequences such as creating unnecessary financial hardship for people with small businesses, compromising regeneration schemes and constraining the supply of affordable commercial property.