How to revive property market

THE government has not talked about what might be done to revive the property market. Here’s what it should do. Reverse all the stamp-duty increases. Stamp duty discourages people from buying. Cancel home improvement packs (Hips). They were the last straw for the housing market in July.

Cancel the introduction of energy performance certificates. They are as daft as Hips. Cancel the 100% business-rates levy on vacant commercial property. Instruct local planning authorities not to be overzealous in granting planning approvals.

The above won’t be a miracle cure but they will undo a lot of the damage. Also, they won’t cost the government much because it will be receiving no income anyway while the sector is in the doldrums.

Trevor Raybould
trevor@raybouldandsons.co.uk

Jobs have held up so far

IN last week’s issue David Smith compared our economic problems with the Great Depression. The comparison is overblown. My impression of the Great Depression is one of mass unemployment, families reliant on charity to eat, and a stock-market dive that lasted for decades. I don’t think problems with housebuilding (a cyclical industry) and retailing (ditto) quite take us into that level of decline. In fact, one of the mysteries of this downturn is the absence of high unemployment. How can we have a serious recession when everyone still has a job?

Greg King
London

Barclays bosses ought to go

BARCLAYS’ share price went from 700p to 300p largely due to management’s incompetence at managing risk. To add insult to injury they are issuing shares at less than 300p to outside shareholders, heavily diluting existing shareholders. This may be legal, but it is highly immoral and I would not have expected it from an institution of such (perceived) repute.

It is clear now that management is not trustworthy and should be ousted.

René Leclézio
Pereybere, Mauritius

Trafford Centre bucks trend

ON your website a story by Teena Lyons claimed that “Out-of-town destinations such as Bluewater and the Trafford Centre had 4% fewer visits than a year ago as shoppers decided to leave their cars at home.”

Contrary to this claim, the Trafford Centre’s most recent footfall figures show that we are up 6% on footfall for June compared with June 2007 - a figure that bucks the national trend.

Justin Webb
Press & PR Officer Trafford Centre, Manchester

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