GGF JOINS FORCES IN CAMPAIGN FOR VAT REDUCTION

GGF JOINS FORCES IN CAMPAIGN FOR VAT REDUCTION

Following the Glass and Glazing Federation’s letter to the Chancellor ahead of his Autumn Statement this December, the GGF joined a broad coalition of campaigners in another letter to George Osborne, requesting that the Treasury cuts VAT on housing renovation and repair work.

Nigel Rees GGF Group Chief Executive commented, “Companies and households across the UK would significantly benefit from the VAT on housing renovation and repair work being reduced from the 20% VAT rate to a 5% rate of VAT. It makes sense for all concerned as it would improve energy efficiency in properties and would grow the economy during these tough times.”

Mark Warren, GGF President and Managing Director of Lister Trade Frames also signed the letter to the Chancellor. Mark added, “At present, the extra 20% VAT on top of the price of the products and installation is affecting the homeowners buying decision. As a consequence, this affects jobs, businesses and of course the energy efficiency in the current building stock – something the Government is trying to improve with schemes such as Green Deal. Cutting the VAT can only encourage more people to commission refurbishment work and at the same time improve the energy efficiency of their homes.”

The GGF will be relaying to its Members and the wider industry, any response from the Chancellor’s office with regard to this campaign. To read the Coalition’s letter to the Chancellor please click here.