Vat cut call

Published:  07 January, 2013

Embattled construction firms today called for a VAT cut for housing renovation and repair work. Respondents to the Federation of Master Builders' survey also listed building regulations, planning and finance as key issues.

The federation's chief executive Brian Berry said firms are still struggling with falling workloads and that a VAT cut would encourage more home owners to invest in their properties, especially in measures to reduce their energy bills.

Support for the building industry comes with the national roll-out of a campaign to promote construction industry. The UK Contractors Group will hold its first regional Creating Britain's Future event at Manchester Town Hall on Thursday, January 24.

The campaign, which began with a launch event in London last July, aims to promote the industry's capability to deliver world-class projects and encourage local and national government investment.

The speakers at the breakfast event will be city council chief executive Sir Howard Bernstein, Kier Group chief executive Paul Sheffield and Mike Lane, a project director at Willmott Dixon.

Stephen Ratcliffe, director of the UK Contractors Group, said: "The significance of the construction industry to the national and local economy should not be underestimated: every £1 invested in the sector generates £2.84 in economic activity and 92p of every £1 spent on construction in the north west is retained within the region.

"Support for the Creating Britain's Future campaign can make a real difference in helping to stimulate local growth and creating jobs."

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