As job sites and construction work has been able to continue during lockdown, industries such as hospitality, tourism and retail in particular have suffered the worst effects of being forced to shut their doors and cease trading.

The government believes it’s only fair that the construction industry helps foot that bill, with plans for the tax to be payable at 3% of gross income.

In a statement from Downing Street, The Prime Minister said “Britain owes a tremendous debt to the men and women who make up the construction industry that built this great nation”

“As we aim to recover prosperously from the pandemic, steps need to be taken to ensure the stability and sustainability of Britain and it’s economy”.

“The Builder’s Tax will be a small contribution from this incredible workforce, that will help support this recovery and the family and friends of all of us who work in other sectors, such as hospitality, tourism and travel, and will help Britain get back on track in a post-pandemic world”.

Industry leaders have been quick to slam the announcement, highlighting the fact its workers are already subject to a significant amount of fees, taxes, materials inflation and noting a portion of it’s workforce that has been placed on the government’s furlough scheme during this time. 

Provisional estimates show that at the end of February the number of employees furloughed in construction was still as much as 229,200.

Fortunately for construction workers, this new tax is unlikely to come into effect any time soon, largely due to it being entirely made up on April Fools Day.

April Fools! 

Feel free to share this to a mate to wind them up!