23rd
November 2011 – FOR IMMEDIATE RELEASE
A reduction in VAT on home
repair, maintenance and improvement work to 5% would cut the number of empty
properties in Wales and ease the pressure on housing supply, says the
Federation of Master Builders (FMB) as politicians prepare to debate a Liberal
Democrat motion* on housing in the Welsh Assembly. The motion supports the
calls for this targeted cut in VAT, and the FMB is urging the UK Government to
listen again to the arguments made by politicians in Wales.
Richard Jenkins, Director
of FMB Wales, said:
“Our research shows that cutting
VAT on home repair, maintenance and improvement work from 20% to 5% would help
renovate or bring back into use over 20,000 extra homes per year in the UK. It
would also create around 1,000 extra construction jobs in Wales 2012 alone. Therefore,
we welcome the fact that the Welsh Government and Welsh politicians from across
the political spectrum show regular support for this measure, which would provide
real help at a time when there is an increasing demand for more jobs and more
housing in Wales and the UK. I hope government ministers in Westminster will
listen closely to the arguments in favour of a VAT cut on home improvement work
during today’s debate in the Assembly.”
