News Item: Spring Statement 2025 Signals Major Spending Cuts
The Chancellor Rachel Reeves made her Spring Statement yesterday highlighting continued pressure on the public finances within an environment of global instability. While this statement was not a mini-Budget, it signalled major reductions in Whitehall spending and reprioritisation of funding towards defence and home building.
HAE EHA Public Affairs Manager Mark Bradshaw responded with the following: “The Hire Association recognises the challenges faced in encouraging economic growth and reducing national debt. Recent announcements on construction skills and moving forward on several major projects are welcomed.
“The hire and rental sector will be a key enabler of much of this construction activity, including home building. Alongside investment in people and skills, Britain needs a targeted plan to steadily decarbonise the construction fleet. The purchase cost of diesel alternatives is usually higher and R&D is also required.
“A scrappage scheme and Full Expensing on greener assets would make a huge difference. The Government accepts that Full Expensing ought to be extended to rental assets but has yet to say when it will take effect. We say this is now urgent.”
HAE EHA’s parliamentary monitoring partner Randalls has prepared a summary of the Statement which can be found here.
A number of consultations were issued alongside the Statement and links to these are at the end of the Randalls document.
If you have any questions about the Spring Statement or other parliamentary matters, please contact Mark Bradshaw on 0121 380 4621.