The Chancellor Alistair Darling is set to overhaul Reit regulations in his Budget statement next week. Following a BPF request of the Treasury to reform regulations that it claims are obstructing the battered sector's recovery.

'The Reit rules and conditions were conceived in a property boom, and they are not appropriate in a crash,' said Phil Nicklin, a real estate tax partner at Deloitte who advised the Government on the introduction of Reits.

Daily Telegraph