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Matt Gallagher, land director at Birmingham-based award winning housebuilder, Cala Homes (Midlands), says that research carried out by his company has shown that brownfield sites which receive planning permission for housing after the introduction of the land development tax could actually be worth less with the planning permission than at present.
The UK Government has further inflamed the sector with its proposals for the Planning Gains Supplement - a land development tax.
Byline: By Jonathan Walker House prices could shoot up when the Chancellor introduces a new land development tax, Conservatives claimed last night.