Chancellor Rachel Reeves has announced a £65 million investment in electric vehicle (EV) charging infrastructure as part of a broader plan to stimulate economic growth. A key focus of last week’s speech was improving on-street charging access to accelerate the UK’s transition to zero-emission transport.
The vehicle rental and leasing sector is seeing its optimism and enthusiasm for 2025 shackled by tax rises on top of regulatory and ZEV Mandate uncertainty. That is according to the BVRLA’s latest Industry Outlook Report, which shows that members are expecting somewhat of a ‘Jekyll and Hyde’ year in 2025.
The Chancellor’s Budget in October announced changes to Vehicle Excise Duty (VED) and taxation of double-cab pickups, both of which are likely to impact BVRLA members and their customers. The BVRLA has updated its factsheets for company and fuel taxation to reflect the latest information.
The Vehicle and Fleet Management and the Residual Value and Remarketing Forums marked their 2024 conclusions over the past two weeks, drawing more than 110 delegates across the two events.
Sharp increases in Vehicle Excise Duty (VED) announced by the Chancellor last month are expected to have a notable impact on the rental sector. Having targeted non-electric vehicles with high increases from April 2025, the revised VED rates were discussed as part of the BBC’s Wake Up to Money radio show last week.
BVRLA members have been subject to a handful of notable external developments in recent weeks. Events such as the Commission Disclosure ruling and the recent Budget have affected businesses across the industry.
Last week’s Budget was publicised beforehand as being a painful one, with difficult decisions needing to be made. Its contents demonstrated the challenging economic climate facing the nation, but did contain some green shoots around road transport decarbonisation.
Today’s budget from the Chancellor demonstrates the challenging economic climate facing the nation, but contained some green shoots around road transport decarbonisation, according to the BVRLA.
With a new year on the horizon, the rental and leasing industry again faces significant changes and challenges. December's Industry Outlook Conference offers an invaluable opportunity to prepare your business for the future, with expert insights, practical advice, and peer-to-peer engagement.
The new Labour government is currently finalising the details of its first major fiscal event since winning the election this summer. Chancellor Rachel Reeves' delivers the Budget next week (30 October) and she has forewarned the public that this will be a 'painful' one.
The upcoming Residual Value and Remarketing (RVR) Forum is set to explore the evolving market for cars and vans, with a focus on economic trends, future values, and the impact of new regulations.