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Calls for home improvement rate cut

VAT rates on home renovations should be cut, it has been claimedSmall businesses in the UK are calling for the government to cut the level of VAT charged on home improvements and renovations.New research has revealed that small businesses back calls for the government to cut the level of VAT charged on home improvements and renovations.

The survey by the Federation of Small Businesses (FSB) found that 59 per cent of firms in the construction sector have experienced a drop in trade over the past six months.

Many have attributed the 15 per cent VAT rate as a reason behind this, as it is stopping customers from hiring their services for the construction of extensions and conservatories.

John Walker, national policy chairman for the FSB, said: "Lowering the VAT rate on home renovation projects will encourage people to spend their money and give a vital kick-start to the important, but currently beleaguered, construction industry.

"It will also help the government to meet its carbon emission targets by encouraging green home renovations."

The government is believed to be looking at plans to include the likes of conservatories in building regulations related to reducing carbon emissions created by UK properties.
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Article Added: 21/05/2009 11:35:59
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