He says REITs need subsidy to create low-rent housing, so that returns to private investors remain attractive (HT 23 January, page 18).
Under the credits, called housing and regeneration tax credits, developers could take every pound spent on social housing off their corporate tax bill. “There are other forms of subsidy, but [these] credits are delivery-focused,” said Smith.
An ODPM spokesman said it was uncertain whether the proposals would feature in the Barker review.
Source
Housing Today
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