"Ministers act against threat by developers to avoid new business rates"

This is what happens when you have a stupid tax (Business Rates) and an even more stupid loophole (exemptions for part-completed buildings).

This is of course easily fixed - replace Business Rates, VAT on constructions and renovation, corporation tax on capital gains and Stamp Duty Land Tax (and any other property-related taxes you can think of) with Site Value Rating, an annual charge of a fixed percentage of the site-only value of all non-residential land, regardless of whether they are undeveloped, part-developed, completed or derelict.

That'll encourage developers to get projects finished and let out. All things being equal, this will encourage development while keeping commercial rents low, thus boosting the economy overall.

Exactly the same principle applies to vacant residential properties. The current ham-fisted combination of confiscation and subsidies clearly achieves nothing.