CPA’s Budget wish-list
27 February 2024
Ahead of the Spring Budget due to be announced on 6 March, the CPA has written to Chancellor Jeremy Hunt urging the Treasury to work with the construction plant-hire sector in addressing the areas of greatest concern to the industry.
In its letter, the association presses the Treasury to consider four key areas. These include a commitment to extending the now-permanent Full Expensing Allowance to every aspect of the construction plant-hire industry, and to extend the 2022 cut in fuel duty for two years, given increased global uncertainty with the ongoing conflict in the Middle East and the war in Ukraine.
The CPA also requests a temporary reintroduction of the rebate for HVO to the construction industry for at least the next two years, as well as exploring the feasibility of a trial scrappage scheme for NRMM (Non-Road Mobile Machinery) users operating in Freeport zones, with a view to widening the scheme on a national basis.
CPA President Brian Jones said: “The Spring Budget provides the ideal opportunity for the Chancellor to provide clear leadership and engagement with our industry.
“Since the last Budget, the CPA has worked closely with the Treasury and the HMRC to explore ways to extend the Full Expensing Allowance to the plant-hire industry.
“Whilst these meetings have been constructive, our members still remain unable to apply for the allowance and we hope this will be addressed, as well as other areas of key concern.”
He continued: “Since the Autumn Statement in November last year, the wider backdrop of continued economic uncertainty, and the cancellation of large infrastructure projects such as Phase 2 of HS2, CPA members have continued to demonstrate their professionalism and resilience in delivering for the wider construction industry.
“The plant-hire industry continues to work for its clients, adding value and building the houses, workplaces, schools, hospitals and infrastructure of a modern, dynamic economy.”
Photo: David Griffiths/Unsplash
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