Developers who hoard land face tax crackdown

HIGH taxes must be imposed on developers who hoard land or who make vast profits on the back of rezoning decisions, if house price increases are to be curbed.

This will be the key recommendation of an Oireachtas committee report to Taoiseach Bertie Ahern next month.

Mr Ahern told the Fianna Fáil Árd Fhéis in September that the Government was determined to punish developers who hoard land and to force them to meet housing needs.