CAB is strongly supporting A VAT reduction on housing renovation and repair that could boost the UK economy by more than £15 billion from 2015 to 2020, according to a new independent research report by Experian. This reduction could also create more than 95,000 jobs and save 240,000 tonnes of CO2 from thousands of homes.
The report, funded by the FMB and industry partners, was officially launched at a reception at the House of Commons on March 3rd 2014. It is backed by more than 60 charities, trade associations, business groups and financial institutions that are united in calling on all three main political parties to commit to this VAT reduction in their 2015 General Election manifestos.
CAB’s Chief Executive, Justin Ratcliffe and Technical Director, Justin Furness attended the reception and took the opportunity to voice the concerns of CAB’s supply chain on this issue to a number of Members’ of Parliament including Simon Hughes of the Liberal Democrats.
The FMB’s ‘Cut the VAT Campaign’ wants to see the UK government reduce VAT on housing renovation and repair from 20% to 5%. For further information visit www.cutthevat.co.uk