New Build and Renovation (Hansard, 10 May 2001)

HC Deb 10 May 2001 vol 368 c280W 280W

§ 32. Mr. Brake
To ask the Chancellor of the Exchequer if he will make a statement on VAT on new build and renovation. [159912]

§ Dawn Primarolo
The Chancellor's Budget announcement included a cut to 5 per cent. in the rate of VAT on the cost of converting residential properties into a different number of dwellings and on the renovation of homes that have been empty for three years or more. The zero rate of VAT it. also to be adjusted to provide relief for the sale of renovated houses which have been empty for 10 years or more.