NFRC Supports Construction Industry Council Budget Proposals

THE CONSTRUCTION Leadership Council (CLC) has submitted an industry-backed letter calling for a number of government policy actions ahead of the Chancellor’s Budget Statement on 3 March 2021.

The submission describes how the construction sector could most effectively support the UK’s recovery, in line with the Government’s key policy priorities to achieve Net Zero, Building Safety, Levelling Up, stimulating economic activity and protecting jobs.

The CLC focuses on a handful of key interventions to drive immediate economic growth and market confidence.

These include:

  • Committing to a National Retrofit Strategy;
  • Offering Incentives for the commercial property sector;
  • Expanding the Building Safety Fund;
  • Making the Infrastructure Bank an effective vehicle for regeneration;
  • Securing Local authority funding;
  • Extending the Stamp Duty Holiday and Duty review;
  • Withdrawing Reverse Charge VAT;
  • and Extending employer apprenticeship incentives and Apprenticeship Levy flexibility.

Budget recommendations

The National Federation of Roofing Contractors (NFRC) worked on several of the proposals with the CLC.

James Talman CEO NFRC

NFRC CEO, James Talman said: “We worked closely with the Construction Leadership Council to develop several of the proposals included in their budget submission to incentivise the retrofitting of commercial and industrial buildings, such as a Green Annual Investment Allowance and a more attractive Structures and Buildings Allowance.

“If we are to reach our Net Zero targets by 2050, we must make sure all of our buildings, including commercial and industrial buildings, are fit for purpose, not just our homes.

“The policies set out in the CLC’s budget submission, would give businesses a strong tax incentive to upgrade their properties to the highest energy efficiency standards – helping them not only to save on bills, but reduce their carbon footprint at the same time. Roofing and cladding contractors would be central to delivering these upgrades

“We also strongly support the CLC’s call for a rethink of Reverse Charge VAT. This policy will cause great financial distress to many roofing contractors, at the worst possible time for many.

“We urge the Chancellor to seriously consider the CLC’s recommendations ahead of the upcoming Budget. The construction industry has worked through this pandemic, and helping to keep the economy going, the government should now show their appreciation.”

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