Cutting VAT on the installation of domestic energy efficiency improvements and low carbon heating technology would help unlock additional finance for households to invest in their properties, according to the Federation of Master Builders (FMB) in response to the Environmental Audit Committee report Growing Back Better, published today.
Brian Berry, Chief Executive, of the FMB, said: “The FMB has been calling for a VAT cut on home improvement works for many years, and it is welcome to see this policy recommended in the Environmental Audit Committee’s report today in relation to green home upgrades. We need to make it easier for households to make their homes greener if we are going to tackle climate change. I also support the Committee’s recommendation for the Green Homes Grant scheme to be extended and reformed. As I told the Committee, longer-term certainty will make it more likely the more small building firms take part in the scheme. These policies should be brought together under one umbrella National Retrofit Strategy for improving the nation’s homes.”
Berry concluded: “An ambitious programme to improve the comfort and environmental impact of our housing stock represents a golden opportunity to create hundreds of thousands of new jobs and level-up across the country post-coronavirus. The Government must use the Budget to bring forward this programme, unlocking the potential of Britain’s builders and helping us grow back better.”