A report on recent government announcements and areas where the Hire Association is engaging with parliamentarians and officials.
HAE EHA has sent its submission to HM Treasury in advance of the Budget on 6th March. We continue to call for an extension to Full Expensing so that hire businesses can benefit from this capital investment incentive. The association is meeting with officials and other sectors on the Leasing Working Group week commencing early in February, and has also raised the issue with the relevant Treasury Minister.
The Hire Association has highlighted the level of crime faced by hire companies arising from theft and fraud and seeks investment in coordinated law enforcement activity. The Association's commitment to help fund the National Construction and Agricultural Theft Team (NCATT) is also mentioned.
Members wanting to see a full copy of the HAE EHA submission please contact us.
More Details on Full Expensing
Full Expensing remains a keynote campaign for HAE EHA and we have made some progress in seeking clarity on potentially extending the relief to hire businesses.
The main barrier to date has been that assets purchased for 'leasing' are not eligible for the relief. The Treasury-led Leasing Working Group will meet again in early February.
A reminder that this call for evidence is now live until 26th March 2024. If members have sent a response to Government it would be helpful to receive a copy.
HAE EHA's Mark Bradshaw is leading on this issue and would welcome information or engagement from members about the details.
Proposals to increase waste electrical and electronic equipment (WEEE) collection levels have been published, outlining how producers and distributors, including online sellers, can all play their part.
Views are also being sought on future WEEE system governance arrangements as well as alternative ways of measuring how the system performs.
A separate call for evidence seeks views on longer term ways of ensuring the WEEE system supports the circular economy, including how WEEE is treated at the end of its life. Both consultation and call for evidence end on 7th March.
The Government has published a Critical Imports and Supply Chains Strategy document which covers a number of key national requirements.
It is the first strategy to be published on this topic and is focused on the following priorities:
Overall the aim is to lower the cost of importing products and materials, reduce red tape and enable global cooperation, while maintaining high standards and adherence to UK trade regulations. This will be achieved by working with key businesses in countries all over the world.
Further support will come from simplified government investment rules through free trade agreements (FTAs). For full details on the paper click here.
On Monday 29th April 2024 the UK Product Security and Telecommunications Infrastructure (Product Security) regime comes into effect, and businesses that manufacture or supply products like this will have to be compliant with minimum security requirements.
Published by the Department for Science, Innovation & Technology (DSIT) and based on the UK’s Code of Practice for Consumer IoT security, the guidance will cover cyber threats. Businesses in the supply chains of applicable products will be required to prevent products that don't meet these security requirements from being sold.
HAE EHA will provide further updates on this, but information is available here.