The Government is set to announce changes to property’s hated empty rates tax in this afternoon’s pre-budget report.

Prime Minister Gordon Brown, speaking at a Confederation of British Industry Conference this morning, said that new legislation on empty rates would be unveiled in the report by Chancellor Alistair Darling.

The announcement follows months of lobbying from the industry, the British Property Federation and Property Week.

It is thought that the government is likely to look at a ‘holiday’ from empty rates.

For more coverage of how property will be affected by the pre-budget report, see later today.