The fall in construction activity of 1.4% this summer is a growing concern for small builders given the continuing fall of 0.2% for repair, maintenance and improvement (RMI) work, says the Federation of Master Builders (FMB) the largest trade association in the UK construction industry representing thousands of firms in England, Scotland, Wales and Northern Ireland.
Brian Berry Chief Executive of the Federation of Master Builders (FMB) said: “Costs are up across the board for both builders and consumers alike which is affecting business confidence. “With 98% of FMB members experiencing material cost increases builders are inevitably having to pass on these costs to consumers.
“The result is that householders are starting to hold back with many households increasingly concerned about rising energy prices and the threat of a recession later in the year.” The FMB is lobbying for a cut in the rate of VAT from 20% to 5% or below on all repair, maintenance, and improvement work would be a welcome start to help boost building work all across the country and help people insulate their homes ahead of further rising energy bills.
