Time to get personal with developers

NOW we know that during the property boom not only did governments give numerous tax breaks to developers that encouraged them to build high-rise office buildings, apartment blocks, hotels and housing estates in the middle of nowhere — sometimes on flood plains — they also cut property developers’ personal taxes from 40% to 20%.

Now we know why the public finances are in such a mess: the country lost a huge amount of tax

This revelation also shows that not only is the Government determined to make ordinary public servants, along with whose who depend on social welfare, to get us out of the mess caused by itself, bankers and developers but it also intends to make these same people, along with ordinary workers generally, pay for the tax breaks and tax cuts given to developers during the boom years.