The timber industry has welcomed key points of chancellor’s Gordon Brown’s long-awaited pre-budget report, including reform of the VAT flat rate scheme.
But the jury is still out on the government’s plan to reform or repeal 147 regulations in a bid to cut red tape.
Mark Silverman, managing director of S Silverman & Son (Importers) Ltd, said he looks forward to seeing red tape regulations being reversed.
But he added: “Are we going to be given new regulations which makes business life more difficult?”
Richard Lambert, director of the British Woodworking Federation, said: “The thing that is going to be most important for BWF members is the reform of the VAT flat rate scheme, which helps small business.”
Mr Lambert said it is too early to say whether there will be any benefits from the government’s consideration of looking to introduce physical incentives to encourage use of energy efficient products.
Meanwhile, the Construction Products Association (CPA) welcomed the plan to cut red tape, simplification of the definition of R&D for tax credit purposes and the continuing commitment to increase capital expenditure.
Alan Wilén, CPA chief executive, said: “We welcome Gordon Brown’s announcements on the extension of climate change negotiated agreements and the development of the EU Emissions Trading Scheme.”
