RICS calls on government to support modern methods of construction in next month’s Budget
Local councils and housing associations should be offered financial incentives by the government to use modern methods of construction to develop residential schemes, according to RICS.
The chartered surveyors’ body made its modern methods of construction (MMC) call in a submission to the Treasury ahead of the Budget, which had been due to be delivered by Sajid Javid on 11 March.
But Javid’s shock resignation as chancellor of the exchequer last week in a row over advisers has thrown the date into doubt.
Rishi Sunak, the former chief secretary to the Treasury and Javid’s successor, is working on the announcement, but the government has so far given no date for when it will take place.
RICS said MMC should also be promoted when developing public infrastructure schemes.
As well as urging greater use of MMC, RICS urged the government to cut the rate of VAT on home improvements that are deemed sustainable by five percentage points to 15%.
In its Budget submission, RICS said the VAT reduction could form part of a green overhaul of the tax.
Other items on RICS’ Budget shopping list included sustained funding and financial incentives for retrofitting existing buildings, a full-scale review of the stamp duty land tax system, and a programme to revamp and “properly fund” the country’s planning departments.
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