A ‘no deal’ Brexit could result in soaring material prices and lower workloads and enquiries, according to the latest research from the Federation of Master Builders (FMB).
The FMB asked construction SMEs about the impact of a ‘no deal’ Brexit: Key results from the research include:
- 53% say it would result in higher material prices;
- 29% say it will lead to lower workloads and enquiries;
- 26% say it would result in less access to skilled workers.
When asked how best the new PM could prevent an economic downturn later this year, the top five interventions cited by construction SMEs were the following:
1) Reduce VAT on repair, maintenance and improvement (87%);
2) Make more money available through Government funding schemes aimed at SME house builders, such as the Home Building Fund (36%);
3) Reform the Apprenticeship Levy so more SMEs can train apprentices (36%);
4) Invest funds in local authority planning departments to speed up the planning process (30%);
5) Embark upon a national programme of social house building (25%).