THE Federation of Master Builders (FMB) has warned that a lack of long-term thinking combined with rising material prices and supply chain disruption are ‘limiting’ the construction industry’s recovery potential.
Responding to the newly published construction PMI data, Brian Berry, chief executive of the FMB, said the sector’s ‘slow recovery’ will ‘stall’ unless action is taken to bring greater certainty into the industry.
“This means tackling rising material prices and supply chains disruption, but also committing to long-term support for builders to build back better, and greener,” he explained.”
Berry added that a temporary cut in VAT on repair, maintenance and improvement (RMI) works would generate an economic stimulus worth £51 billion and create almost 345,000 new jobs in construction and the wider economy.
