Spring Budget - Insolvencies must be addressed

Spring Budget - Insolvencies must be addressed

29 Feb 2024 Posted By Declan Pang

Decisions at next week’s Spring Budget (6 March) loom large for our industry. 

Over the past 12 months, we have seen an alarming rate of insolvencies in the road freight sector. Figures from the Office of National Statistics show 500 hauliers went into administration in 2023, more than double the number in 2020. 70 per cent of operators are concerned about the level of demand, according to industry surveys.

The number of insolvencies over the past four years can be found HERE.

Our policy team is ensuring the concerns are heard by the Chancellor and his officials ahead of the Spring Budget. 

You can see the latest on our campaign on our website HERE.

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