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min answer › date of answer	2021-03-01
answer › answer text	%3Cp%3EThe Government has designed the Residential Property Developer Tax in a way that will minimise any detrimental impact on housing supply%2C including the supply of affordable housing.%3C%2Fp%3E%3Cp%3E %3C%2Fp%3E%3Cp%3EIn particular%2C taxing profits will help to ensure contributions are proportionate to economic returns and will help to minimise distortions that might come from alternative tax bases.%3C%2Fp%3E%3Cp%3E %3C%2Fp%3E%3Cp%3EThe new tax will not affect developers%E2%80%99 planning obligations%2C including obligations under Section 106 of the Town and Country Planning Act 1990.%3C%2Fp%3E
min date	2019-05-21
tabling member constituency	Manchester Central

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tabling member constituency

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uin

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is ministerial correction

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answering member constituency

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question first answered

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tabling member


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1364086

registered interest

date

27/10/2021

answering body

Treasury

answering dept id

answering dept short name

Treasury

answering dept sort name

Treasury

hansard heading

Property Development: Taxation

house id

legislature

25259

pref label	House of Commons

question text

To ask the Chancellor of the Exchequer, what assessment he has made of the impact on viability of development of the Residential property developer tax; and what steps he is taking to ensure developers do not use the tax to reduce their affordable housing or other infrastructure investment obligations.

tabling member constituency

Manchester Central

tabling member printed

Lucy Powell

uin

64626

answer

is ministerial correction

date of answer

01/11/2021

answer text

The Government has designed the Residential Property Developer Tax in a way that will minimise any detrimental impact on housing supply, including the supply of affordable housing. In particular, taxing profits will help to ensure contributions are proportionate to economic returns and will help to minimise distortions that might come from alternative tax bases. The new tax will not affect developers’ planning obligations, including obligations under Section 106 of the Town and Country Planning Act 1990.

answering member constituency

South East Cambridgeshire

answering member printed

Lucy Frazer

question first answered

01/11/2021 17:06:05

answering member

4517

label	Biography information for Lucy Frazer

tabling member

4263

label	Biography information for Lucy Powell