Those pesky Brussels bureaucrats are considering a move to add VAT to Britain’s new homes. They think it would be a good idea to do this as a means of ‘standardisation’ across the EU.
With house building at a low and the property market in a rather challenging place, wouldn’t this count as one of the most stupid ideas ever?
Far from raising cash, it would cripple the house building industry putting builders, roofers, electricians and thousands of others in the construction industry out of work.
The knock on effect of doing this would be felt catastrophically throughout the UK economy as a whole with the tax take down and consumer spending decimated. Like the economy needs yet another excuse to falter….
If you thought house prices were out of reach now, wait until some faceless Eurocrat whacks 20% on top.
Fingers crossed that common sense prevails. However this is politics and so it may not of course.