COMMENT 17


The recent interim report from the Building Better Building Beautiful Commission, highlighted the vital impor- tance that the repair and maintenance sector plays in sustaining our existing buildings and heritage.


The Commission point to the absurdity of the tax difference between new builds which are zero rated for VAT and repair and maintenance which is charged at 20 per cent, and calls for harmonisation. The Government should heed this advice.


CUTTING VAT WILL HELP BOOST THE ECONOMY Finally, cutting VAT on repair and maintenance work would give a much needed boost to the economy. In 2015 the Federation of Master Builders commissioned Experian to look at the economic impact of reducing VAT to 5 per cent on repair and maintenance work. They found that over the five year period 2015-20 this could have created an economic stimulus of over £15bn, created 42,000 extra full time construc- tion jobs and 53,000 extra jobs in the wider economy. More recently, the Home Owners and


Alliance and Resi found that almost a quarter of people have been put off undertaking home improvement work


because of the cost, and almost a third have admitted not paying VAT in order to afford the project. A reduction would therefore not only motivate home owners to improve their homes, but would also help increase standards by removing the competitive advantage of the cash-in- hand economy.


The upcoming Budget on 11 March,


expected to be focused on the environment, provides the perfect opportunity to cut VAT on repair, mainte- nance and maintenance, and by doing so will help the UK reach net zero, restore our heritage and give a much needed boost to SME builders.


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