How will the Spring Budget affect the Construction Industry?

Yesterday (Wednesday 8th April 2017) Chancellor Philip Hammond delivered his first Spring Budget speech to Parliament. With Britain due to leave the single market and a lot of uncertainty surrounding our proposed ?Brexit? this speech was going to be very closely watched. As suppliers to the construction industry we have decided to outline some of the key points within this budget that could make changes to the construction industry as a whole? The main National Insurance contribution rate paid by the self-employed will rise in the next few years. It will increase from its current level of 9% to 10% in April 2018, and then to 11% in April 2019 for those earning over ?8,060. The chancellor indicated that this change would raise ?145m a year by 2021-22. It is also believed that this change announced in the Budget will leave 2.84 million people facing an average annual increase of ?240. The chancellor said this brought more fairness between the self-employed and the employed

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