What a missed opportunity. The chancellor could have spread the burden of VAT on building work by introducing a reduced rate on all building works. Currently set at 5% this would have had little effect on the cost of a new house but would have had a dramatic effect on the refurbishment market. Self build in this area is a huge market and would have created jobs as self builders would have turned to refurbishment of their homes rather than moving to a larger home. When will the government see sense on this? The French did this a few years back and actually increased their overall revenue as well as revitalising their construction industry.
Why don’t more people join NaSBA so that we can really put pressure on the powers that be to change this stupid tax situation?