Former Lib Dem leader Simon Hughes, shadow housing minister Emma Reynolds and Mark Pawsey, Conservative member of the communities and local government select committee were told the key findings of Experian’s new independent research report into the impact of cutting VAT during its launch at a Cut the Vat Campaign event at Westminster.
A VAT cut could also create more than 95,000 jobs and save 240,000 tonnes of CO2 from thousands of homes, the report says.
"A VAT reduction on housing renovation and repair work will empower homeowners to contribute to growth, jobs and greener homes without placing a burden on the Treasury," said Brian Berry, chief executive of the Federation of Master Builders.
The report is backed by more than 60 charities, trade associations, business groups and financial institutions.
