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Calls for help as figures show Scottish development in crisis GH

New orders for commercial development and repair work in Scotland have fallen by a third since the start of the credit crunch, data has revealed.

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The research, conducted by academics at Warwick University, has prompted a call for the Scottish Government to work with the property industry to help unlock economic growth.

Ideas put forward by the Scottish Property Federation at its annual conference in Edinburgh yesterday included freezing the empty property rate and encouraging new infrastructure investment. The body also called for a ‘step change in reforming the planning system’.

David Peck, chairman of the Scottish Property Federation, said: ‘The commercial property industry has been hit harder than most sectors during this recession, losing around a third of its workforce and reducing its contribution to the economy by more than £2bn. The SPF is urging the Scottish Government to do what it can to help us unlock economic growth and development in order to deliver a strong private sector that will in turn support key public services.’

The study showed that vacancy rates were running at 26 per cent in some areas north of the border. It also found that around 28,000 jobs had been lost since 2007, with one in four small and medium-sized enterprises fearing they could close by 2014.

Speaking to delegates, Alex Neil, cabinet secretary for infrastructure and capital investment in the Scottish Government, said: ‘The property sector plays a key role in Scotland’s economic fortunes – not just in terms of GDP and employment - but by delivering the homes, offices and places which can attract investment.

‘That is why we are taking every action we can to drive the economy and assist the property sector on the ground.

‘We have published our priorities for investment in the Infrastructure Investment Plan and the Government Economic Strategy sets out what we want to achieve and how we will do this.’

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