THE chairman of Scottish Chambers of Commerce has said the Coalition Government should cut the rate of VAT payable on some building work to boost the key construction sector.
In a speech at Scottish Chambers' annual dinner, Mr Salter said: "Much could be done to revitalise the building and construction sector if more work was exempt from VAT. New houses are VAT exempt. But extensions and refurbishments incur VAT at the full 20% rate introduced by the Chancellor two years ago. This has added to the problems faced by our construction sector – a major source of employment.
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