by Richard Cosgrove | Wed 30 Oct 2024
CPA reacts to the Chancellor’s Autumn Budget
Following the Autumn Budget announced by Chancellor Rachel Reeves today, Steve Mulholland, Chief Executive Officer of the Construction Plant-hire Association (CPA) said: “Today’s Budget was an opportunity for the new government to show it is serious about providing the business community with stability and certainty. Despite not being part of the Industrial Strategy there appears to be an acknowledgement that Infrastructure shall play its part in this new era of intended stability and growth with a commitment to spending on roads, rail, hospitals, schools, and homes.
“We welcome the news that Fuel Duty remains frozen, however it is disappointing that employers will have to pay more in National Insurance, and that the plant-hire sector remains excluded from being able to take complete advantage of the Full Expensing Allowance in its current form. We need further clarity on what fiscal conditions must be met before this can happen. We look forward to seeing more detail.”
The CPA is the largest trade association for the plant-hire sector in the UK, representing over 1,900 companies who are responsible for 85% of the construction plant used in the UK.
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