Cut VAT on home improvements, urges FMB

The FMB has urged the Chancellor to use the Budget to cut VAT on home improvements, to make it easier for households to get works done, including green upgrades. It is also calling for an extension of the stamp duty holiday to breathe new confidence into the housing market.

Data from the FMB’s latest State Of Trade Survey for November to December shows that one in four builders reported lower workloads in the fourth quarter, rising from 21 per cent on the previous quarter.

More than four in five builders reported a rise in material prices, yet only one in three are increasing their prices, taking the hit themselves.

One in four respondents reported problems trying to find carpenters, joiners and bricklayers.

25 February 2021

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