Builders' wish-list for 2013
A CUT in VAT for housing renovation and repair work is at the top of the New Year's wish-list for most small and medium-sized construction companies, a survey said.
The Federation of Master Builders (FMB) said nearly three-quarters of members surveyed said VAT was an issue they wanted the Government to address.
Building regulations, planning and finance were also listed as priority issues by more than half the businesses quizzed.
Brian Berry, FMB chief executive, said the survey results were not surprising.
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"Most firms are still struggling with falling workloads and competition from the informal economy," he said.
He said it would boost the economy if it was easier for homeowners and landlords to commission work on their properties.
Independent research has shown the Government could offset the initial loss of tax revenue with the growth in demand for housing repair and maintenance work, he said.
"Reduced VAT rates would also encourage more people to introduce measures in their homes to reduce household energy bills and cut CO2 emissions," Mr Berry said.
Comments
by Foldart
Monday, January 07 2013, 9:05AM
“Cash in hand - that's the informal economy. I suspect it's rife in the building and service industries.”
by pogle63a
Monday, January 07 2013, 8:52AM
“Quote `Most firms are still struggling with falling workloads and competition from the informal economy," he said.`
What is this informal economy? Perhaps the herald could explain it as it has mentioned it.”