The Government has pledged to reduce its carbon emissions by 80% by 2050 and with homes contributing 27% of the UK’s total carbon emissions, improving the energy efficiency of our existing housing stock is absolutely key.
Potential business benefits for SME builders
The domestic energy efficiency refurbishment market is estimated to be worth between £3.5 billion and £6.5 billion per year and has the potential to generate an enormous amount of work for SME builders – local construction firms that are ideally placed to take on these jobs.
The FMB is determined to help ensure its members are well placed to take advantage of the current and future opportunities by:
- Ensuring Government-led programmes do not overlook SMEs in favour of larger construction companies
- Ensuring that its members have the necessary skills and qualifications to carry out the work.
Cut the VAT on repair, maintenance and improvement work
More widely the FMB has long argued for a broad cut in VAT to 5% for all housing renovation and repair work as independent research (PDF, 1.48MB) demonstrates that such a move would significantly boost the UK economy by:
- Boosting economic growth and generating thousands of jobs.
- Bringing empty properties back into use.
- Improving the energy efficiency of our housing stock.
- Reducing the incidence of fuel poverty.
- Protecting consumers and legitimate businesses by significantly reducing the competitive advantage of rogue traders.
The FMB leads the Cut the VAT campaign which has the gained the support of a large number of organisations and individuals that understand the benefits such a move would bring.