News Item: Hire Association’s Initial Response to the 2026 Budget Statement
On Wednesday 28th October 2026, the first UK Budget was held since Andy Burnham became Prime Minister. Chancellor of the Exchequer John Healey spoke in Parliament with the aim to bring ‘Breathing space for today and fresh hope for the future’.
Elements covered in the Budget include help with the bills and the cost of living, increases to pensions and minimum wage, numerous changes to business taxes, and increased spending on housing and defence.
Mark Bradshaw, HAE EHA Director of Public Affairs commented. “In all a very mixed Budget, not all dire but shows the extent of the UK’s economic difficulties. No doubt closer examination of the ‘Budget Bundle’ will unearth some unpleasant changes not mentioned in the Chancellor’s Speech. HAE EHA welcomes the increase in the First Year Allowance from 40% to 50%, as we worked hard to persuade the Treasury to bring this in (and not to scrap the new allowance).”
Mark goes on to say, “Further funding to boost apprenticeships and accelerate mayoral-led infrastructure and place-shaping is all positive news for our sector. Unfortunately, no sign yet of measures to reduce the rising costs of employing people.”
For the main 2026 UK Budget document click here.
These documents, useful for those in financial roles, summarise the tax policy measures described during the budget, including supporting notes and data:
Budget 2026 — Overview of tax legislation and rates (OOTLAR)
Annex A: rates and allowances
Annex B: impact assessments in tax information and impact notes
HAE EHA will update members after we’ve worked through the various documents published alongside the Budget. These contain many of the technical details and we will highlight any further changes soon. As ever, members should take professional advice before making decisions based on the provisions announced by the Government, or information we share based on published sources.
If you have any questions you can contact Mark Bradshaw on 0121 380 4621 or send him an email.
Image Source: UK Parliament