Darling 'defies logic'

Alistair Darling's Budget "defies logic" and misses simple ways to help the property industry, a leading expert has claimed.

Liz Peace, chief executive of the British Property Federation (BPF), has claimed that a number of suggestions put forward by the organisation, including temporary changes to the real estate investment trust regime, have been ignored.

A lack of empty rates relief, as well as the disaggregation of stamp duty on bulk purchases, was also criticised.

Peter Cosmetatos, the BPF's director for finance and investment, agreed, describing the announcement as "very disappointing".

He added: "This was a Budget of missed opportunities from a government that seems to have lost its way."

The BPF works to promote the interests of all companies within the property ownership and investment sector, while it also encourages best practice in both the commercial and residential market.