CIHT analysed the government’s Spring Statement and reviewed the Chancellor's measures to look at the wider implications for highways and transportation.
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CIHT welcomes the Spring Statement, delivered today (26 March) by the Chancellor of the Exchequer, Rt Hon Rachel Reeves MP in the House of Commons.
The Spring Statement is an opportunity for the Chancellor to respond to the Office of Budget Responsibility’s (OBR)’s most recent economic forecast. The Chancellor will now only make major tax and spending announcements once per year, in the Autumn Budget.
As outlined in the CIHT manifesto, prioritising investment in the highways, transportation and infrastructure sector enables significant wider economic, societal and health benefits.
CIHT looks forward to continuing to work with the Treasury, the Department for Transport, and the government on the creation of transport networks that are fit for all our futures.
Advance Tax Certainty for Major Projects
The government has published a consultation on proposals for a new process to provide increased tax certainty for research and development reliefs in advance for major projects.
These will be of interest to large organisations looking to plan for significant projects.
The consultation is available to read here.
Construction skills
The government has introduced a £625 million package of skills measures to address large-scale skills shortages in the construction sector, needed to deliver the government’s plans to build 1.5 million homes in England and progress infrastructure projects in this Parliament.
CIHT welcome the government’s commitment to addressing skill shortages in vital areas. Incentivising young people to join the construction industry will support the development of the skills needed for highways maintenance and improvements, in addition to vital infrastructure developments. We eagerly anticipate more detail of the skills measures announced.
For more information on CIHT’s commentary on the Spring Statement 2025, please contact CIHT Public Affairs Manager Liberty Hibberd e: liberty.hibberd@ciht.org.uk
The full financial statement is available to read here.
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