THE Construction Plant-hire Association (CPA) has welcomed the Spring Budget announcement that the UK Government will publish draft legislation to extend Full Expensing to assets for leasing when fiscal conditions allow – but called for a ‘timetable of action’.
Responding to chancellor Jeremy Hunt’s statement, Brian Jones, president of the CPA, said, “The announcement by the chancellor in today’s Spring Budget, that the government will publish draft legislation to extend Full Expensing to assets for leasing when fiscal conditions allow, is a positive step. However, it is vital we know what these fiscal conditions are and when they will be met.
“We urgently need a timetable of action for this legislation that sets out when CPA members can invest with confidence in new equipment and boost business investment and productivity.
“The announcement to freeze fuel duty will be welcomed. With oil prices volatile, and the wider economic outlook still uncertain, this is a positive move.”
