The Hire Association Europe & Event Hire Association (HAE EHA) has called for Labour to stand behind the previous Government’s full expensing pledge.
Speaking on behalf of the HAE EHA Mark Bradshaw, public affairs manager said: “The UK hire industry is a vital enabler of construction, facilities management and infrastructure resilience and we are keen to work closely with Keir Starmer’s new government. Specialist hire businesses also help deliver world class sporting, music and business events as well as supply to hospitals and schools and across the public sector.
“To continue doing so, we want to see a fairer and modernised approach to incentivising capital investment. Hire companies are currently not eligible for full expensing, something that could unlock much further investment in newer equipment, helping to decarbonise faster, boost productivity and support UK manufacturers and jobs.
“The current system is outdated and unworkable for a modern market where approximately 75% of equipment used in construction is hired as and when it is needed. This is an established feature of construction and wider procurement. It is much more cost-effective and efficient for firms to operate in this way, unfortunately the tax system just hasn’t caught up yet.”
