COMMENTING on the Chancellor’s 5p cut in fuel duty in today’s Spring Statement, Paul Hollick (pictured left), the Chair of the Association of Fleet Professionals, said:
The Spring Statement really does serve as a point of focus for the rising costs that all SME fleets are currently facing, especially given poorer growth and inflation forecasts. Literally every part of the cost equation that goes into operating cars and vans are facing substantial rises.
While the Chancellor has taken some actions that will serve to offer some mitigation, such as the reduction in fuel duty, none of these will really alter the overall direction of travel.
The AFP view, in general, is that businesses should look to proactively manage their way through this situation and, for many, that will ultimately mean speeding up EV adoption, accessing permanently lower fuel and overall running costs.
Also, in the light of ongoing electrification, we were hoping to see more news on both the post-2024-25 benefit in kind tables and the road charging schemes that it appears will replace diesel and petrol fuel and vehicle excise duty – but it seems the Government is not yet ready to unveil its plans.
The RAC motoring organisation said that the cut in fuel duty would take £3.30 off the cost of filling a 55-litre tank with fuel. The cut will last for 12 months.
The Association of Fleet Professionals (AFP) is the organisation for fleet professionals.