Simply Business has launched a campaign to “Stamp Out Tool Theft”, as research reveals one in three (37%) tradespeople have had their tools stolen, costing a combined average of £3,005 each in lost earnings (£870) and replacing stolen tools (£2,135).
The small business insurer is calling on the government to implement greater fines for those convicted of tool theft, as well as tighter regulations on the selling of second-hand tools. The insurer has launched a petition with the aim of attracting 100,000 signatures for the measures to be debated in Parliament.
To mark the campaign, a mobile billboard was driven to the front door of parliament at 8am today, laying bare the issue of tool theft to the government. The mobile billboard, announcing the petition on behalf of the thousands of victims of tool theft, then travelled to some of the capital’s biggest building sites across Battersea, Nine Elms and Wandsworth. It also stopped off and visited well-known businesses on the way, such as Pimlico Plumbers, Screwfix and Plumbase.
In a survey, 84% of tradespeople don’t believe the government is doing enough to prevent tool theft. Just under two thirds (60%) surveyed believe there needs to be greater sentences for thieves, while more than half (55%) believe there should be greater fines for those convicted.
Over a quarter (28%) of tradespeople believe the sentence for tool theft should be five years in prison, and over one in 10 (15%) believe a £10,000 fine should be imposed.
Bea Montoya, chief operating officer at Simply Business: “Tradespeople are the backbone of Britain, but they’re being stopped in their tracks on a daily basis due to the ongoing tool theft epidemic. Tool theft rips through the lives of thousands of tradespeople and their families every year, with victims losing out on over £3,000 each on average – through lost earnings and replacing stolen equipment. Having their tools stolen doesn’t just impact their ability to work, but it affects their livelihoods too.
“We’re calling on the government to Stamp Out Tool Theft once and for all. We want to see greater fines imposed on those convicted, as well as tighter regulations on the selling of second-hand tools which, because of their high value, are often stolen to sell on the black market. Putting these two measures in place will go a long way in combating tool theft, protecting the lives and jobs of millions of tradespeople up and down the country.”