BVRLA responds to Chancellor's Spring Budget:
Today’s Budget has provided additional relief for some of the businesses hit hardest by the COVID pandemic and further incentives for fleets that want to invest in decarbonisation.
Responding to today’s announcement from the Chancellor, the BVRLA has welcomed the extensions to furlough and business rates relief, two key support measures that it had highlighted in its Budget submissions.
The association was also pleased to see the introduction of a new 130% capital allowance super-deduction for investment in electric vehicle (EV) charging infrastructure. The BVRLA had also highlighted the need for additional EV infrastructure tax relief in its Budget requests.
“The Chancellor has provided support and incentives where they are needed most,” said BVRLA Chief Executive, Gerry Keaney.
“Today’s announcement will help BVRLA members and their customers to bounce-back from the economic impacts of the COVID pandemic and focus on decarbonising their fleets.
Motoring tax updates were limited to a further 12-month suspension of the HGV Levy, freezes in fuel duty and HGV Vehicle Excise Duty (VED) and inflation-linked increases in car and van VED and the fuel and van benefit charges.
“We are disappointed that the Government has given no further indication of the longer-term motoring tax roadmap it will use to drive decarbonisation, but there is lots of consultation going on and we expect more news on this in the coming months,” added Keaney.
-ENDS-
Notes to editors:
The BVRLA’s Budget 2021 submission can be read here.
The BVRLA’s follow up letter to the Chancellor can be read here.
The results of the BVRLA’s latest Business Impact survey is available to read here.
You can access BVRLA images at www.flickr.com/photos/bvrla/albums
