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| Richard Jenkins, Jane Hutt AM, Francine Morgan and Marc Jehu |
Finance Minister Jane Hutt
today took the opportunity to discuss the devolution of stamp duty to Wales
with representatives from the Federation of Master Builders Wales and Jehu
Project Services when she visited the Royal Buildings development in Port
Talbot.
When completed the Royal
Buildings site will consist of 46 affordable rented flats and four retail
units. Jehu Project Services , part of the Jehu Group have been appointed as
the main building contractor for the project.
Following a tour of the site
Jane Hutt said:
“In the current economic
climate, the need to boost jobs and growth is the Welsh Government’s first
priority. The steps we are already taking - both by using the powers we
currently have, and also through our use of European funding – are playing an important role in supporting economic
recovery.
“But we want to do more, and
the housing sector and the wider construction industry have an absolutely vital
role to play. That is why I believe it is so important that powers over stamp
duty land tax should be devolved to Wales.
“In my meetings with the
construction sector, I have been struck by the strength of the consensus that
exists in favour of devolving and reforming stamp duty. If we were to gain
powers over this tax, I am certain that we would be able to reform it in a way
that made it simpler, fairer and more efficient –
benefiting both home builders and home buyers, and boosting this key sector of
the Welsh economy.
“I believe that this view will come through loud
and clear in the UK Government’s ongoing consultation about devolving the tax,
but I would encourage everyone involved in the industry to make a submission to
the Treasury’s consultation.”
During her visit the Minister
also discussed the recently published Construction Procurement Strategy. Jane
Hutt added:
"Investing in
construction provides a great opportunity to deliver much more than new
buildings and roads. By applying intelligent and innovative procurement
strategy and policy, we can use this investment to help provide jobs, training
and contract opportunities which is key to our agenda to support jobs and
growth in Wales.”
Richard Jenkins, Director FMB Cymru said:
"We welcome
the Minister taking the time to speak to FMB members directly on important
issues such as procurement and the Stamp Duty Land Tax. Our policy on SDLT is
clear - the devolution of this tax is vital, and as it has been
recommended already by the Holtham and Silk Commissions, the UK
Government should devolve the powers to Wales without delay. The
construction sector could benefit greatly by this tax if
it could be tailored to suit the needs of the Welsh construction and
business sector."
Marc Jehu, Managing Director
at Jehu Projects, said:
“The Royal Buildings project
is nearing completion and has played a significant part in Jehu Group’s success
in the past year. It has also provided job security and additional new jobs.
Once completed, the site will provide fantastic homes for individuals or
families, in addition to a platform for small businesses to grow.
“With a house building
company within the Jehu Group, we would welcome reduction in stamp duty on
homes in the entry level of the market, provided it is not off set by increases
in middle and higher end of the market. Wales is woefully short of quality
executive homes as well as affordable homes and if we are to attract companies
into Wales, we need to offer appropriate homes. We look forward to
participating in the consultation process.”
