Tax cut on home renovations set to continue into 2015

The cut from 21 percent to 6 percent was first introduced in February 2013 as a way to stimulate the building sector, which was struggling because of the collapse in the housing market.

The reduction has already been extended from one year to January 2015. Now, ministers and the three opposition parties working out the government’s 2015 spending plans have agreed a further extension, Nieuwsuur said.

The budget will be formally published on September 16.