Giles Barrie, editor of Property Week, has drafted an open letter to Gordon Brown on empty rates calling for relief to be re-applied at the pre-April level.

The correspondence outlines that scrapping relief on empty property is having a crippling effect on the UK economy, and particularly the property, retailing and manufacturing sectors.

In addition, it is also hampering regeneration by preventing development and will have a damaging effect on pension fund holdings in property which have already been hit hard by the current economic downturn.

In light of the above, the Prime Minister is urged to restore the empty rate relief that existed before 1 April 2008 so that all unoccupied properties receive full relief for the first 3 months; shops and offices pay 50% subsequently; and industrial premises receive full relief indefinitely.

The Inter Bank Rating Forum (IBRF) campaigned against the empty rates proposal so are united in calling for this, and support Property Week wholeheartedly in its ‘Empty Threat’ campaign to secure these aims.