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An estimate of the effects of a reduction in the rate of VAT on housing renovation and repair work: 2015 to 2020

Posted on: 1 April 2014
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Filed under: News

This research report by Experian suggests that a reduction of VAT on housing renovation and repair from 20% to 5% could boost the UK economy by more than £15billion from 2015 to 2020. It could also create more than 95,000 jobs and save 240,000 tonnes of CO2 from thousands of homes. The report is backed by more than 60 charities, trade associations, business groups and financial institutions that are united in calling on all three main political parties to commit to the reduction in their 2015 election manifestos.

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