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Sharp increases in Vehicle Excise Duty (VED) announced by the Chancellor last month are expected to have a notable impact on the rental sector. Having targeted non-electric vehicles with high increases from April 2025, the revised VED rates were discussed as part of the BBC’s Wake Up to Money radio show last week.

BVRLA members have been subject to a handful of notable external developments in recent weeks. Events such as the Commission Disclosure ruling and the recent Budget have affected businesses across the industry.

Last week’s Budget was publicised beforehand as being a painful one, with difficult decisions needing to be made. Its contents demonstrated the challenging economic climate facing the nation, but did contain some green shoots around road transport decarbonisation.

The Budget on 30 October 2024 contained several updates that will have an impact on BVRLA members. Key details are summarised here:

Today’s budget from the Chancellor demonstrates the challenging economic climate facing the nation, but contained some green shoots around road transport decarbonisation, according to the BVRLA.

With a new year on the horizon, the rental and leasing industry again faces significant changes and challenges. December's Industry Outlook Conference offers an invaluable opportunity to prepare your business for the future, with expert insights, practical advice, and peer-to-peer engagement.

The new Labour government is currently finalising the details of its first major fiscal event since winning the election this summer. Chancellor Rachel Reeves' delivers the Budget next week (30 October) and she has forewarned the public that this will be a 'painful' one.

The upcoming Residual Value and Remarketing (RVR) Forum is set to explore the evolving market for cars and vans, with a focus on economic trends, future values, and the impact of new regulations.

The BVRLA’s annual programmes of specialist industry forums conclude in the coming weeks, with limited spaces available to members that don’t currently subscribe to the full calendar of events.

The last of the 2024 series of the BVRLA’s Vehicle and Fleet Management (VFM) Forum is taking place on Thursday 14 November, hosted by Epyx in Meriden.

The BVRLA recently made a submission to Government ahead of the Autumn Budget (30 October).

The Government must act now to avoid further volatility in used electric vehicle (EV) values, which is damaging confidence in the transition and making new EVs more expensive.