The 2% fall in repair, maintenance and improvement work in the building industry, as announced in today’s ONS figures on construction output in Great Britain, reflects reduced consumer spend as a result of the higher cost of living, says the Federation of Master Builders (FMB).
Brian Berry, Chief Executive of the Federation of Master Builders (FMB) said: “Today’s figures showing a 2% drop in repair maintenance and improvement (RMI) work highlight the real term effects of a contracting economy. This is the third consecutive monthly decline in RMI work, which is the backbone of the construction industry and is often an early indicator of what’s to come for the wider sector. Small local builders are under increasing pressure to keep their bottom lines in the black, as cash strapped consumers hold back on new projects ahead of a difficult winter period. The Government needs to set out the detail of their pro-growth agenda to help restore confidence in the economy. A win-win would be a nationwide energy efficiency plan to make our homes more energy efficient, which boosts jobs and lowers bills. A more immediate shot in the arm would be a reduction in VAT on RMI work, helping builders pass on savings to customers.”
Notes to editors
The Federation of Master Builders (FMB) is the largest trade association in the UK construction industry representing thousands of firms in England, Scotland, Wales and Northern Ireland. Established in 1941 to protect the interests of small and medium-sized (SME) construction firms, the FMB is independent and non-profit making, lobbying for members’ interests at both the national and local level.
The FMB is a source of knowledge, professional advice and support for its members, providing a range of modern and relevant business building services to help them succeed. The FMB is committed to raising quality in the construction industry and offers a free Find a Builder service to consumers.
