The Deputy will be aware that I have instigated a review to consider, and make recommendations, on the operation of the LPT, and any impacts on LPT liabilities due to property price developments.
A public consultation has been held as part of the review. The consultation period ran to April 30th, a period of 4 weeks. I am informed that over 50 written submissions were received, with detailed suggestions. All submissions have been considered, and I understand that drafting of the final report and recommendations is in process. Copies of all submissions made will be published on the Departments website in due course.
It is intended that the Review be presented to me no later than summer 2015, with a view to consideration of any recommendations therein in the context of the Budget. Until the report is finalised and presented to me I cannot say what action may be taken.