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Chancellor freezes fuel duty in 2018 budget speech

The headline news from chancellor Phillip Hammond’s latest budget is that Stamp duty is to be abolished immediately for first-time buyers purchasing properties worth up to £300,000. Those first-time buyers purchasing properties over this amount won’t pay stamp duty on the first £300,000. However, there was less to say with regards to the automotive industry and business in general.

Nevertheless, the fuel duty rise for petrol and diesel cars scheduled for April 2018 has been scrapped. At the same time car tax for new diesel cars not meeting latest standards is to rise by one band next year. The good news for businesses reliant on deliveries is that this particular tax hike will not apply to van owners.

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Chancellor “is planning tax hike for diesel” says PRA

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Drivers of diesel engine cars are likely to face a hike in fuel price, according to the Petrol Retailers Association (PRA). Chairman Brian Madderson states that the association “has been informed by a well-placed parliamentary source, that the Chancellor is likely to announce a 1ppl increase to fuel duty for all diesel drivers in this week’s Autumn Budget. This would be a thinly disguised tax grab using air quality issues as justification.”

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PRA urges chancellor to cut fuel duty in Autumn Budget

The Petrol Retailers Association (PRA) has written to the chancellor of the exchequer urging him to not just freeze, but cut fuel duty by 5ppl in the Autumn Budget this month.

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Roads spending, Brexit caution, business rate relief in spring Budget

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UK chancellor of the exchequer Philip Hammond’s spring Budget contained the Office for Budget Responsibility (OBR) upgraded growth forecasts for 2017, while predicting lower – but rising – figures for the years following the assumed activation of Article 50 as the country leaves the European Union. The government also confirmed an extra £690 million will be added to the £1.3 billion announced in autumn to improve transport networks in urban areas. In other transport news, the freeze on fuel duty has been retained.

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Institute of the Motor Industry presents motorist-supporting Budget ‘wishlist’

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Steve Nash, CEO of the Institute of the Motor Industry (IMI), has presented UK chancellor of the exchequer Philip Hammond with his ‘wishlist’ for next week’s Spring Budget. Top of the list is a request for the Chancellor to do more to encourage motorists to adopt new technologies – rather than penalising motorists driving the ‘wrong’ cars.

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‘Filling stations should be included in rates concessions’ – PRA

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There are continuing suggestions from government sources that small businesses, especially those embracing ‘hospitality’, will be given concessions on their business rates liability in the March Budget.

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Autumn Statement transport investments ‘positive’, but ‘real prize is not addressed’

While welcoming chancellor of the exchequer Phillip Hammond’s transport announcements in the 2016 Autumn Statement, KPMG analysts have criticised the focus on increasing capacity, rather than “making more from the capacity” the UK has already.

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Infrastructure and automotive industry investment central to automotive statement

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While the consumer pre-coverage of the Autumn Statement focused on government’s decision to ban upfront residential fees letting, in fact Chancellor of the Exchequer Phillip Hammond revealed something of his past as a transport secretary by announcing a series of investments in transport.

At the top of the list, £23 billion to be spent on innovation and infrastructure over five years. The chancellor also announced £2 billion per year by 2020 for research and development funding. And £1.1 billion extra will be spent on English local transport networks. £220 million aims to reduce traffic pinch points. All are likely to support the development both the automotive manufacturing and fleet businesses the tyre industry relies on for growth.

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PRA urges fuel duty cut

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With over £5 billion year higher costs to consumer from rapidly rising fuel costs, Brian Madderson, Chairman of the Petrol Retailers Association (PRA) has again written to the chancellor of the exchequer to state the overwhelming case for a three pence per litre cut in duty in his Autumn Statement.

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Demand for fuel rises

March diesel sales were up by 7.9 per cent, petrol sales up by a surprising 5.6 per cent and overall sales including commercial up by 7.0 per cent versus same month last year. “Latest Government data suggests that increased economic activity and cheaper prices had a significant impact on the demand for fuel in the month to 14 March”, said Brian Madderson, chairman of the Petrol Retailers Association.

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Small businesses win in 2016 budget

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British Chancellor of the Exchequer, Rt. Hon George Osborne MP’s 2016 budget lowers tax rates for small businesses, however large businesses face stamp duty and other increases. The surprise announcement of government-backed “Lifetime ISAs” is designed to help everyone save more for the future. But, at the same time as this, larger personal tax allowances were announced – suggesting people will have great levels of disposable income now as well.

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PRA urges chancellor to continue fuel duty freeze in Budget

Petrol retailers’ chief Brian Madderson has called on the chancellor to “keep fuel duty down” in this month’s Budget. Five years ago, the chancellor froze fuel duty, a move the PRA said led to “more goods being purchased and more people being hired.” The PRA has long lobbied for either frozen or reduced fuel duty on the basis that this helps to increase business and consumer spending.

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RMI applauds ’positive’ Autumn Statement

The RMI applauds the Chancellor’s confirmed commitment in ‘rebuilding Britain’ and an industrial strategy for the automotive sector for a decade in the recent Autumn Statement.

“Also, it is positive to see the extension of the small business rate relief scheme for a further year which will benefit 600,000 small businesses”, said Sue Robinson, RMI Director.

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PRA welcomes Chancellor’s stance on police budgets and fuel duty freeze

With forecourt crime costing the economy an estimated £40million a year, petrol retailers across England and Wales have been threatened by police authorities refusing to investigate ‘drive-offs’* and other forecourt crimes if budget cuts were implemented.

Brian Madderson, Chairman of the Petrol Retailers Association (PRA) comments, “The PRA welcomes the announcement of the maintenance of police budgets, following news that the Home Office recently established a Forecourt Crime Senior Steering Group with funding for at least 12 months.

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Glass’s: budget rewards lower CO2 cars; older vehicles undertaxed

Analysts from Glass’s vehicle pricing guide have applauded the simplification of road tax announced in the recent budget and appeared supportive of measures to effective reward newer, lower CO2 vehicles. However, they also said that older vehicles are undertaxed:

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