Michael Ankers, chief executive of the Construction Products Association adds: "The Chancellor failed to respond to a number of key issues affecting the industry, particularly the extension of Climate Change Levy negotiated agreements and a lower rate of vat on domestic repair and maintenance."
Pollock agrees: "Reducing the rate of vat will limit the financial advantage that the unregulated rogue trader has over the professional contractor. The current high rate of vat is not the joined-up thinking that the Government professes to encourage...it is presiding over a tax system in which the cowboy builder thrives."
Some changes are welcomed by the ECA, in particular those to the Construction Industry Scheme, which will help to ease the cashflow problems of small contractors.
Source
Electrical and Mechanical Contractor
No comments yet