Following yesterday’s Spring Budget announcement, the Chancellor set out plans aimed at supporting economic growth while holding firm on key tax decisions. The Budget keeps income tax bands frozen, meaning more of any pay rises or higher day rates will be pushed into higher tax brackets, and offers limited additional relief on the everyday costs that hit trades businesses hardest – from fuel for vans to the rising price of materials and wages. Against this backdrop, many in the industry are questioning whether the headline message of “growth” matches the reality for the people actually keeping the country’s infrastructure moving.
Against that context, Lee Wilcox, CEO of On the Tools, said:
“We’re hearing the same thing from trades all over the country – this Spring Budget talks about growth, but it doesn’t really show up in the van on a Monday morning. Freezing tax bands while costs on fuel, materials and wages keep climbing just means more money dragged out of the pockets of the people actually building Britain. If the government is serious about backing skills and infrastructure, it has to start by making it easier – not harder – for tradespeople and small firms to invest, hire and get on with the job.”
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