Home / Finance News / BILLIONS lost from building jobs due to ‘cowboy builders’ | The Crusader | Finance

BILLIONS lost from building jobs due to ‘cowboy builders’ | The Crusader | Finance

Householders’ fear of being stung by cowboy builders is costing us all £10billion a year according to trade body the Federation of Master Builders (FMB).

That’s the sum its research suggest is being lost to the economy because people hold back and don’t commission new home improvement projects.

“A third of homeowners are so anxious about the possibility of choosing a bad builder, they don’t commission any building work whatsoever,” said FMB chief executive Brian Berry.

“The FMB’s latest research shows that on average, your typical home owner would spend £40,000 on major home improvement projects over the next five years if they could be guaranteed a positive experience.

“If we were able to unlock this pent-up demand from fearful consumers, the benefit to jobs and growth would be enormous. We need to end the cowboy builders’ reign of terror so we can give all home owners the confidence they need to invest their cash in building work.

“Unlike in Australia and Canada, in this country anyone can be a builder and that’s why there is a significant minority of rogue traders out there giving the whole construction industry a bad name. 

“The Government should consider introducing some form of mandatory licensing system for domestic builders. 

“We’re exploring this, but in the meantime our advice to home owners looking for a builder is to ask for a recommendation or approach a professional trade association who can put them in touch with a vetted and inspected building firm.”

For more info go to fmb.org.uk


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