Richard Smith: Budget must cut costs for key economic enablers

Ahead of the next month’s Budget we continue to campaign for government support that will empower our sector to drive economic growth.

Our industry is facing up to some critical challenges with consistently high numbers of insolvencies and a flat economy, amid the continuing cost-of-living crisis.

The HGV, coach and van sectors are key economic enablers so we urge the Government to reduce the growing financial burden on operators to ensure our industry can deliver for the rest of the economy and to tackle the rising costs of consumer goods.

Everything we eat, drink, wear and consume depends on road haulage services and the companies and drivers that operate them. Road freight moves 81% of all goods and 98% of agricultural and food products.

This is why we’re calling on the Chancellor to announce measures in her Budget that will reduce costs for transport operators, and support wider growth.

These include keeping the fuel duty freeze, introducing emissions-linked rebates, freezing the HGV Levy and VED, and extending full expensing to leased assets. An essential user rebate of 15ppl will help operators keep costs under control.

We also ask the Government to consult widely on any changes to Business Property Relief (BPR), which could impact on the large number of family businesses operating in the haulage, van and coach sectors.

We’re clear that these measures amongst others would help operators reduce their costs which would in turn benefit connected sectors and ultimately the economy as a whole.