Tax hike is losing Island investment, says Chief Minister

Tue, 26 May 2015

The Chief Minister has shed some light on the damaging effects the increase in land and property tax has had on the construction industry.

Last week, Economic Development Minister Laurence Skelly refuted claims that it had dented morale in the industry.

However, Allan Bell told us he finds it of significant concern - as the Island has lost major property sales in recent months as a result of the rise from 10 to 20 percent tax.

He says it's now up to Treasury to talk with the industry and try and find the best possible solution: