28th November 2008
Property investors may end up benefitting from efforts by the Federation of Master Builders (FMB) to seek help for struggling businesses in the UK building industry.

The FMB's director general Richard Diment yesterday met with the prime minister at 10 Downing Street to discuss how the government can come to the aid of businesses in the construction sector.

"I was able to tell the prime minister that the government must provide further incentives to free up the moribund building market," said Mr Diment.

"The Prime Minister also listened to the need to cut VAT on repair and maintenance work to five percent and the benefits that this will bring for home occupiers and the environment."

He went on to say that house building was at its lowest level since 1945 and "immediate action" is needed to "protect the thousands of businesses and tens of thousands of jobs in the building sector".

The financial downturn continues to cause havoc across the sector and some 41 per cent of firms are warning of impending redundancies in coming months.



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