Budget saves £1.5k per truck per year
April 1st 2011 The logistics industry received a Budget day boost with fuel duty reduced and the introduction of a fair fuel stabiliser. It is estimated this will save hauliers £1,500 per truck per year.
Chancellor George Osborne cut fuel duty by 1p and delayed the next two proposed rises in fuel duty. The April 2011 inflation-only increase will be delayed to January 2012. The April 2012 increase will be delayed to August 2012. The fair fuel stabiliser increases tax on North Sea oil production when oil prices are high.
Simon Chapman, FTA chief economist said: “By cutting fuel duty by 1 penny per litre, the Chancellor has effectively saved industry £125m this year.”
RHA chief executive Geoff Dunning also welcomed the move but said Government should go further.
“The inflation element has not been cancelled but simply postponed and we face two sharp increases in quick succession next year,” he said. More articles from Handling & Storage Solutions: | 
