The current financial levels required for applicants and operators who hold restricted licences for trucks, buses or coaches are being reviewed by the Traffic Commissioners for Great Britain (TCGB).
TCGB is using financial security as a key test to ensure operators keep commercial vehicles well maintained and safe. The Traffic Commissioners believe a consistent approach to the required financial status will promote fair competition within the industry.
The proposed changes to the financial level are currently open to consultation, with a range of options available, from increasing in line with the Consumer Price Index, keeping the current level, or reducing the existing rate.
The BVRLA will use comments from members to inform its response to this consultation. To comment on behalf of your organisation, please contact Jinmi Macaulay at firstname.lastname@example.org.
The full consultation is available on the Gov.uk website.