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News Release from: Federation of Master Builders (FMB) | Subject: Calling for cut in VAT
Edited by the Buildingtalk Editorial
Team on 26 February 2008
Coalition calls on Chancellor to cut VAT
Coalition of organisations including the Federation of Master Builders, NHIC and the TaxPayers' Alliance calling for cut in VAT for all building repair and maintenance work.
A broad coalition of organisations including the Federation of Master Builders (FMB), the National Home Improvement Council and the TaxPayers' Alliance have written to the Chancellor of the Exchequer setting out the case for a cut in VAT for all building repair and maintenance work and calling on him to implement the cut in his first Budget on 12 March The 'Cut the VAT' Coalition is asking the Chancellor for a reduction in VAT from 17.5% to 5% to help the Government achieve its target of cutting carbon emissions by 60% by 2050; to help eliminate rogue traders; and to tackle fuel poverty at a time when four million households cannot afford to heat their homes
This article was originally published on Buildingtalk on 27 Jun 2003 at 8.00am (UK)
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Richard Hyslop, Coalition Coordinator said, "The Chancellor of the Exchequer has a unique opportunity in his first Budget to improve the lives of millions and make a lasting contribution to making Britain a greener, more energy efficient country by cutting VAT from 17.5% to 5% on all building repair and maintenance work".
"Such a move would have wider benefits than just improving this country's housing stock".
"It would directly benefit the millions of people living in non-decent housing and the 4 million families who struggle to heat their homes".
Matthew Elliott, Chief Executive of the TaxPayers' Alliance continued, "VAT on home improvement is holding back the quality of Britain's housing stock and punishing people for creating better, more liveable and greener homes".
"The Treasury is allowing short-term greed to get in the way of long-term progress".
"If the Government cut the VAT it will encourage homeowners and landlords to do the right thing and improve the standard of living for millions".
Roman Russocki, Executive Director of the National Home Improvement Council concluded, "For more than a decade we have lobbied Government on the issue of lower VAT on home improvements".
"There are significant advantages in cutting VAT especially at this time when the pressure is growing on Government to provide more homes and at the same time bring existing properties into line with reduced CO2 requirements.".
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