An additional £1.3 billion is to be spent on improving the road network in Britain, according to Chancellor Philip Hammond’s first Autumn Statement.
In the Statement, Chancellor Hammond recognised the role that haulage firms play in the UK’s economy and promised to freeze fuel duty for the seventh year in a row in order to help their running costs.
Encouraging the decision, Road Haulage Association (RHA) chief executive, Richard Burnett, said: “Any measures to make their [drivers] journey easier, more efficient and certainly more cost-effective will contribute greatly to the movement of the UK economy and help ease the cost of congestion.
“This costs billions of pounds each year to millions of householders across the UK.”
Alongside the fuel duty freeze, however, Chancellor Hammond also announced that Insurance Premium Tax will increase by 2%, affecting 26.5 million car policies.
“The news that Insurance Premium Tax is to rise comes as a disappointment,” adds Burnett.
“[It’s] a disappointment that will, to an extent, be offset by the news that fuel duty, held at 57.95p per litre, is to be frozen for the seventh year in a row”
“Obviously, a fuel duty cut would have made a real difference to our members’ operating costs, but a further duty freeze? We’ll happily take that.”
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