Fuel Price Freeze Will Help – Ridgeway – CPC London

A seventh consecutive fuel freeze was announced in the Autumn Statement, showing that Chancellor Philip Hammond has recognised the impact tax has on businesses and families. But the Freight Transport Association (FTA) said a cut in fuel prices would have boosted the economy by putting more money into people’s pockets and reducing costs for transport operators.

The FTA has consistently called for a 3p per litre cut in fuel duty, which would save around £1500 a year on the running cost of a 44 tonne truck. As a founder member of FairFuel UK, the FTA has lobbied Government for a reduction in fuel duty to support transport firms that are operating on tight margins and now face uncertainty after the decision to leave the EU.

James Hookman, FTA Deputy Chief Executive, said: “Naturally we are pleased with the Chancellor’s decision not to increase fuel duty in line with inflation as previously planned. The freeze will save truck operators – the majority of which are small and medium businesses – about £9,000 a year for a typical ten-vehicle fleet.

“The Chancellor has understood the arguments made by the FairFuelUK campaign and fuel duty has moved from being a ‘sin tax’ like alcohol and tobacco duty to being recognised as a core burden on families and businesses who can be helped by freezing it. The Chancellor needs to continue that logic and recognise that reducing tax duty in future will bring even greater benefit to the economy.”

Investing in Local Transport – Ridgeway – CPC London

Philips Hammond’s Autumn Statement also committed an additional £1.1bn investment in local transport networks in England, where he said small investments could offer big wins. This included £220m to address traffic pinch points on strategic roads.

Mr Hookham went on to say: “The increased spending on infrastructure is great news and we await the details of which specific road and rail schemes will go ahead in the next few days, but we are pleased that the East-West corridor investment between Oxford and Cambridge is going ahead. Another priority for FTA is the route of the approach roads to the new Lower Thames Crossing between Gravesend and Tilbury.

“More money for local infrastructure is welcome and we will be presenting our list of preferred schemes to local highway authorities and the devolved governments to prioritise those that most benefit freight movements.”

Ridgeway Training – CPC London

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