Reduce VAT on Housing Repairs to Save £15bn

The government could boost the UK economy by more than £15 billion between 2015 and 2020 if it reduced VAT on housing repair and renovation work, according to a report by Experian. The research, backed by more than 60 charities, trade associations, business groups and financial institutions, also found the VAT cut could create 95,000 jobs and save 240,000 tonnes of carbon dioxide. It calls on the three main political parties to commit to this VAT reduction, from 20 per cent to 5 per cent, as part of their 2015 general election manifestos. Download a copy of the report.