The budget is generally good news – Let’s See Todays News Updates

Although the freezing of excise taxes on fuel for trucks and vehicles was welcomed, the Chancellor’s autumn budget was less interesting.
Peter Golding, CEO of FleetCheck, said these are likely to have a marginal impact on current rising costs in all sectors. He added: “The money allocated to finance the roadside facility is also interesting and may indicate that the government is listening a little to the concerns of drivers and managers, but it is unlikely to have a significant impact on the ground.
“Indeed, the best news the Chancellor has made is that, given the events of the past 18 months, the economy appears to be relatively healthy, but there are still a number of challenges that will continue to affect the navy in the near future. It remains to be seen if that is enough. “
Paul Hollick, chairman of the Fleet Professional Association, said: “The freezing of the fuel tax is certainly a pleasant but not a surprise, as the amount of gasoline and diesel fuel has increased in recent months and additional funds have been allocated for roadside refueling. Welcome, but already leaked.
“There are some disappointments,” he said. The biggest of these is the lack of a tax schedule for 2025-26, which is still a problem for our campaigns and electrified fleets. We would welcome a sign of future discussions on the government’s future views on road prices, but it seems that this talk will continue to some extent. “
“In a broad sense, the good news is that the economy is a relatively good place to follow Covey, or a better place to wait at least once, and it’s still a long list of big issues, from semiconductor shortages,” he said. In the wake of Brexit. “
AA President Edmund King, AA’s president, said the freezing of the fuel would bring some “pump help” but that “gasoline prices are still suffering from record highs.”
He added; “Our research shows that when fuel prices are high, low-income drivers deduct general household expenses, including food and heating, to keep their cars out of traffic. Freezing taxes will help these drivers. We will look for more budget and infrastructure leverage to support COP26’s position in the UK to “complete power supply as soon as possible”. Fleets and company car drivers are playing an important role in finding new electric cars that will soon find their way into the old car market. “
Fuel price information:
At the time of the pandemic, gasoline was 122p and diesel 125p liters. We both fell. Now they are 143p and 146.5p per liter.
The difference of 21p added 3.5p to the VAT. This is more than the 2.84 percent increase in the fuel tax, and the Chancellor continues to impose more taxes on drivers.
Fuel tax frozen for 12 years
Sue Robinson, executive director of the National Franchise Dealer Association, said Chancellor Rishi Sunak had previously announced a number of measures in response to a request for an overview of the NFDA’s costs and advice. These include a 50% annual discount on business prices for retail, leisure and hospitality businesses, £ 110,000 and a new discount to improve investment in green technology.

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In addition, at the request of the NFDA: the business tariff system will be evaluated every three years; The funding of the rating agency will increase significantly, and next year’s Business Rate Multiplier will be canceled.
Paul Burgess, chief executive of Startline Motor Finance, added: “There is a lot of economic news in the budget, and even in a year’s time we will be happy in the midst of the plague. Growth is higher than expected, unemployment is still relatively low and government debt is high. seems to be under control.
“On the other hand, there is no denying that the economy continues to suffer from Coved, Brexit, semiconductor shortages and other impacts. The impact of all these factors is difficult to predict over time, and many people’s personal spending is likely to decline significantly next year or more. and 4%, especially if inflation is expected to be higher than before.
“From an engine financial standpoint, we don’t believe they pose a particular threat to the current buoyancy of the used car market, and we hope to make 2022 stronger – but we hope that the road to the overall economy will be good,” he said.

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