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A REIT Good Thing

Stephen Edge Slaughter & May discusses the implications for the City of the Budget announcement on REITs
Undoubtedly the major item of City interest in the Budget — and the stock market reaction said it all — was REITs. For the listed companies most likely to convert enthusiasm about the Chancellor's announcement of a bearable conversion charge was reflected in market increases that must have caused mixed emotions at the Treasury. Nevertheless the result is a good one for all those (on both sides of the fence) who have worked so hard over the past few years to seek to achieve a workable solution.
The background of course is that the Government was keen to modernise and broaden investment in property. While as individuals we...

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