REGENERATION AND VAT ON REPAIRS

Motion Text

That this House supports the Government's commitment to increasing the supply of affordable housing and boosting regeneration; recognises that a key element in this process would be altering the current VAT regime on construction where new building is zero-rated while conversions and repairs are rated at 17.5 per cent. thus making it cheaper to refurbish existing housing rather than demolish it, and giving advantage to building on brownfield rather than greenfield sites; urges the Government to introduce a single rate of VAT below 10 per cent. for all building work; and further urges the Government to apply this reduced rate for all conversions, refurbishment and repairs to historic buildings and places of worship as well as existing domestic properties, thus protecting the countryside and built heritage, encouraging the supply of new housing and encouraging urban regeneration.