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Get Britain Building campaign - FMB support

Get Britain Building campaign - FMB support Get Britain Building campaign - FMB support
Get Britain Building campaign - FMB support
Author: Steve Riley
Date: 24 Mar 2009

Get Britain Building campaign

Revised, 24 March 2009:

The Federation of Master Builders became the latest organisation to call for a flat 5% VAT rate on building renovation work. The FMB called on the Chancellor to use his Budget speech on April 22 to make the announcement.

Richard Diment, Director General of the FMB: “Cutting VAT on home maintenance and repairs will not only boost the economy, through increased workloads for builders, but also create a better way of life for people all over the country."

 

Original story, 18 March 2009:

The Get Britain Building campaign continues to gather pace. It was given a boost this week by an EU ruling making changes by member states to VAT for individual market sectors a legal possibility. One of the key campaign aims is to reduce VAT to 5% for construction and renovation materials.

Government figures show that the UK construction industry employs over 2 million workers and contributes 8.2% of GDP.The campaign argues that the sector has been unfairly hit by the current downturn and at least 300,000 jobs are at risk.

The campaign focuses on the need to help all those involved in the UK construction industry survive in the current economic downturn.

Amongst their aims:

1. Get the banks lending to individuals and businesses again.

2. Cut VAT to 5% for all building repair and maintenance work.

3. Create more homes and improve the existing housing stock to be more energy efficient.

4. Boost social housing.

5. Simplify the planning system.

6. Reform stamp duty to a graduated tax (like income tax), rather than the current stepped threshold system.

 

More:
http://www.getbritainbuilding.org/
http://www.fmb.org.uk/news/press-releases...

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