Marion Cane, director in Ernst & Young’s real estate team, commented,
“It is disappointing that there is again no announcement of a consultation on the introduction of Mortgage REITs. Permitting Real Estate Investment Trusts to invest tax efficiently in commercial property debt and residential mortgages, would help create the conditions for further new sources of finance to emerge and address the commercial property sector’s over-reliance on bank finance. We believe such a measure would be tax neutral and would ultimately be of benefit to the wider economy.”
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