“The Budget Statement told us a number of things we already knew – not least that the export led growth predicted by the Chancellor a parliament ago has proved to be illusory. Many of the other major, and emerging, economies are not performing well and as a result are not buying our UK manufactured construction machines in the numbers we need. It was, however, good to see him give a nod to the value of the new National Infrastructure Commission and their championing of Northern transport links, plus Crossrail 2. HS3, the upgraded Manchester to Leeds rail link, has been given the “green light” but let’s hope it doesn’t encounter too many red lights on its way to delivery, as other major projects have.
There was some focus on productivity which is to be welcomed, despite the Office of Budget Responsibility’s downgrade of their productivity growth forecasts. As a country, we continue to lag behind key competitors, which is one of the reasons why as the CEA we are focusing on productivity with our Construction Productivity Forum initiative this year.
Promised changes to the Climate Change Levy could be helpful for business, but we would need to see more detail on this. Helpful too that there appear to have been no more stealth taxes introduced in the same way that the Apprenticeship Levy was slapped on business costs.”
Rob Oliver
Chief Executive
CEA (Construction Equipment Association)
