CPA REACTS TO THE CHANCELLOR’S SPRING BUDGET

Following Chancellor Jeremy Hunt’s Spring Budget earlier today, Kevin Minton, Chief Executive of the Construction Plant-hire Association (CPA) said: “Steps to boost business investment and maintain the freeze on fuel duty are welcome. However, we are seeking clarification from the Treasury on the details around the successor to the super-deduction allowance (SDA), and whether the plant-hire sector can qualify for this new scheme.

“Following the announcements on the delay to HS2 last week, a Budget for growth needs firm commitments from government on future infrastructure spending and projects. Proposals in the Budget to create Great British Nuclear, while welcome, do not provide immediate comfort to the construction sector, given these plans are medium to long-term goals. However, we hope plans to provide the Carbon Capture Usage and Storage scheme with its £20bn fund, could provide some level of confidence for infrastructure planning.

“The construction sector may welcome the Chancellor’s plans to attract over 50s to the workplace to help address the skills shortfall the industry is facing. However, this new scheme must complement existing initiatives already in place.”