Beyond Fuel Duty: RHA submits key budget asks to secure investment for haulage, coach, and van sectors

Against the backdrop of a range of challenges, from regulatory shifts to rising costs and a flat economy, we recently submitted some key asks and recommendations to Government ahead of the Budget.

Last week we looked at the impact of a potential fuel duty rise and the £7bn worth of knock-on financial implications that would have for businesses and households in the next few years.

Another of our recommendations to the Chancellor is around extending full expensing to leased assets. We believe this can be a lifeline for businesses investing in their future, but currently it excludes those who lease vehicles; the single most important assets for HGV, Coach and Van operators. For many firms, SMEs in particular, leasing vehicles isn't a choice - but a financial necessity. Yet businesses, already squeezed by inflation and additional cost considerations, cannot access this key tax relief. Previous budgets acknowledged this, and last year the Government said it would 'extend full expensing to leased assets when fiscal conditions allow'. We want to see actions match words.

We're also calling on Government to consult widely on any changes to Business Property Relief (BPR), which could impact on a large number of family businesses operating in the haulage, van and coach sectors.
Supporting businesses with changes such as these would help ease the unavoidable burden rising costs have placed on bottom lines, helping firms as they invest, grow and play a full part in Britain's economic recovery. If we want the growth the Government has pledged to deliver, they must work with sectors such as ours that are crucial to making it happen.

You can support our industry by writing to your MP HERE