Commercial property: Taxpayers are being sold short

CHARTERED INSTITUTE OF PUBLIC FINANCE AND ACCOUNTANCY

Commercial property: Taxpayers are being sold short

The economic rationale for the ‘commercial councils’ agenda is filling the austerity hole in their budgets with income streams from financial assets, says Joel Benjamin - but are the assets sound investments made in the public interest?

Maverick US investor Steve Eisman, immortalised in ‘The Big Short' for his 2008 bet against US residential mortgage securities, hit the headlines recently, revealing his latest bet shorting the UK economy and the misfiring commercial retail sector ahead of Brexit.

Why should the UK local government sector care what Eisman thinks about the UK High Street?

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