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Levy warning

NEWS IN BRIEF

Treasury proposa ls to introduce a Planning Gain Supplement could scare off developers and make new schemes financially unviable, property specialist Knight Frank has warned after research into Government plans. The supplement would tax developers on profits made once planning permission is secured for land and would effectively replace the current system of Section 106 agreements. Knight Frank found the planned flat rate supplement would not raise as much cash for local infrastructure, making some schemes unviable.