Ongoing struggle for small builders strengthens case for targeted recovery, says FMB
The latest quarterly data from the Office for National Statistics (ONS) showed a 39.8% fall in private repair and maintenance in the three months to May 2020; these sharp effects of the coronavirus crisis on small builders reflect the picture painted by the FMB’s own recent State of Trade survey.
Jessica Levy, Director of Communications at the Federation of Master Builders (FMB), said:
“Despite a healthy rebound in May driven mainly by new house building activity, construction output remains at historic lows, and the quarterly and annual trends paint a bleak picture. We need to both act now to reverse the huge falls resulting from the recent shock of the pandemic – especially in the domestic repair and maintenance sector – as well as focus on building back better.”
“The construction sector welcomed short-term boosts like the Green Homes Grants and the £1,000 bonus to take on new trainees in construction. But we also need the Government to back a longer-term vision to sustain the much-needed recovery. This should include a temporary and targeted cut in VAT, a national retrofit strategy, and support to carefully match new recruits to the right construction firms.”
Kindly shared by Federation of Master Builders (FMB)