This Budget representation sets out the three critical fiscal measures that will support the fleet sector’s recovery, and accelerate the move to a net-zero transport system across the UK.
Priority 1: A one year freeze in Vehicle Excise Duty (VED)
Priority 2: “Lock in” the previously announced Benefit-in-Kind freeze and publish 2025-26 rates
Priority 3: Create a ‘Green Investment Allowance’ to unlock private investment in electric vehicle charging
The BVRLA also wrote to the Chancellor regarding the continued support required as Covid-19 restrictions are relaxed.
There are three key areas support which the BVRLA believes must be reviewed as soon as possible:
- Extend furlough until the end of national restrictions
- Provide business rates relief for another year
- Extend the deadlines for repaying deferred VAT and increase flexibility.