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Government non-committal on VAT cut for home improvements
26/08/10
Edited by Tom Bardsley.The government has given a non-committal response to a new petition calling for it to cut VAT on home improvement work.
Garvis Snook, chief executive of builder Rok, had submitted the appeal to Whitehall, arguing that reducing the rate from its current level of 17.5 per cent to five per cent would help to keep the country's residential property in good condition while providing much-needed work for the construction industry, Inside Housing reports.
He said it would also encourage home owners to carry out more work to improve the energy efficiency of their dwelling, which would contribute to the UK's targets for cutting CO2 emissions.
In response, the coalition issued a statement reading: "The government keeps all taxes under review and has noted the contents of this petition."
Back in February, the Cut the VAT coalition, which includes the Federation of Master Builders and the National Home Improvement Council, said reducing the tax to five per cent for repair and maintenance work would create 55,000 jobs and generate £1.4 billion for the economy in 2010 alone.
