Last week Chancellor Jeremy Hunt set out the government’s tax and spending plans. The headline announcements in the Spring Budget spanned national insurance, childcare, and fuel duty. Of significance to BVRLA members are the plans to extend full expensing to rental and leasing, following extensive consultation including the BVRLA and other associations.
Watch a short overview (posted on LinkedIn) of the Budget and what it means to members.
In response, Gerry Keaney, BVRLA Chief Executive said; “Today’s commitment to extend full expensing to the rental and leasing sectors is a monumental step forward to rectify an historic injustice. The BVRLA has been an active voice in achieving this change and welcomes the opportunity to engage further in delivering this long overdue alignment in tax policy.”
The Spring Budget, however, contained no updates on the key levers that are integral to enabling the switch to zero-emission vehicles in line with government targets.
Keaney continued; “At a critical time for the transition to zero-emission vehicles, no news is bad news. Today we heard nothing on charging, VED, Benefit in Kind, VAT on public charging, grants for electric vans, or a consumer education campaign. The Chancellor is leaving our sector in limbo.
“The Government needs to be braver in unlocking the billions of pounds in zero emission investments required across the whole road transport sector, from fleets, small businesses and private motorists.”
To find out more, or to share any opinions, comments or concerns, email [email protected]. The association will collate all feedback and use in ongoing conversations with HM Treasury.
If you are interested in getting involved with the BVRLA’s policy work, you can do so in many ways, such as responding to consultation requests or joining a Working Group.
