Growth needs a reset on the cost of doing business

Modest growth is welcome, and much better than none - but 0.1% in May is no foundation for the long-term recovery Britain needs.

The latest GDP figures matched expectations, yet the story underneath is fragile. A sunny May lifted retail sales - and our sector helped deliver that uplift - but confidence across the wider economy remains thin. With change in Number Ten and uncertainty over the Autumn Budget, businesses are holding back on investment until they've clarity and certainty.

When the economy moves, it moves by road. 85% of everything we rely on is delivered by lorry, so when momentum stalls, our members feel it first.
Diesel remains the single biggest overhead for operators - HGVs, coaches and vans alike - and renewed instability in the Middle East risks pushing pump prices higher again at the worst possible time. Firms on wafer-thin margins cannot absorb another shock. Too many have already closed their doors.

A new Prime Minister brings an opportunity to reset and as we await clarity on future plans, the Government must get serious about reducing the cost of doing business - starting with an extended freeze in fuel duty and an Essential User Rebate for commercial vehicles.

Back the firms driving business on our roads, and growth will follow. Road transport is uniquely placed to help realise Britain's growth ambitions - we stand ready to work with new ministers to make that a reality.