There's jubilation in the Isle of Man's construction industry, following the news the reduced rate of VAT for domestic property repairs is here to stay.
The five per cent figure has been made permanent following negotiations between the Manx Treasury and the government in the United Kingdom.
Treasury Minister Anne Craine is delighted any uncertainty has been removed, and believes the retention of the lower rate will continue to be a stimulus for the building trade in what she calls 'these difficult times'.
Chairman of the Isle of Man Employers' Federation Les Nicholls says it's great news for everybody involved in construction:
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