SBF executive director Michael Levack said: “The commitment to prioritise an additional £300m towards capital investment in Scotland is welcome. But considering that Scottish construction output fell by more than £1.1bn last year alone, it is clear that more could and should be done to support the industry.
“Aside from additional capital investment, we have consistently called for a targeted cut in VAT on building repairs, maintenance and improvements to give particularly smaller construction firms a much-needed boost. While pontificating about the need to tackle tax avoidance, the Chancellor has ignored the plight of legitimate building companies that struggle to compete against the ‘cash-in-hand’ cowboys that are the parasites of our industry. What is more, he has missed a golden opportunity to stimulate investment in initiatives to make our built environment greener and more energy efficient.”
Mr Levack concluded: “Overall, the Chancellor seems determined to stick to the existing economic course. In reality, Plan A is doing too little to support the construction sector as a means of stimulating growth in the wider economy. As a result, I fear we will continue to bump along the bottom for some time to come.”
Got a story? Email news@theconstructionindex.co.uk
