​GSD says introduction of property tax highlights cash shortage & historic financial mismanagement

The GSD says the introduction of a property tax by the Government highlights a critical cash shortage driven by historic financial mismanagement.
Opposition MP Roy Clinton says the recently-gazetted bill has raised more questions than answers, leaving investors uneasy.
Minister for Taxation, Nigel Feetham, announced the measure in his budget address, saying it targeted those conducting a 'property trade'.
The bill means those who own three or more properties - not including their primary home - will be subject to a new tax on profits from sales.
Responding to GSD criticism today, Mr Feetham said it ensures property ownership benefits the many, not just the few.
Shelina Assomull spoke to Mr Clinton

[@trhippy4442]

He said it catches "everybody" who owns property in Gibraltar? Does it or does it only catch those buying up more than 3 or 4 properties to sell on? This guy is not convincing me at all