The Autumn Statement 2015: What it means to you
Following yesterday’s Autumn Statement, where Chancellor George Osborne revealed his financial plans, we take a look at the impact this will have on fleets in the UK and what it really means to you.
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Stuart Miles, Director of Sales, Fleetcor UK says; “George Osborne delivered his first Autumn Budget Statement as Chancellor of a Conservative government, and with disappointing news for company car drivers he announced that diesel cars will no longer see a drop in BIK as the three percent surcharge, which was due to be scrapped in April 2016, will now be postponed until April 2021.”
“Choices have already been made by individuals based on the planned scrapping of the diesel surcharge in the 2016/17 tax year who would have taken cost into consideration when choosing their vehicle, whilst employers will be burdened themselves with unexpected NIC increase. So, diesel company car drivers will not see their BIK tax bills fall next year and why is this? Osborne clearly blames the EU emissions as a reason to delay this change and has delayed the surcharge removal until a new testing process is in place to more accurately record car CO2 emissions, maybe with the Volkswagen scandal being at the heart of this thought process.”
Peter Bridgen, Fleetcor UK’s Managing Director adds; “In all of the debate around Diesel, no senior Government spokesperson has mentioned the positive impact that Adblue has on the environment. Are they aware that more car and van manufacturers are moving towards the inclusion of Adblue which reduces harmful Nitrogen Oxide emissions from the exhaust gas of diesel engines using Selective Catalytic Reduction systems, turning it in to Nitrogen and water vapour? Adblue is readily available from fuel service stations throughout the UK and is included on all Euro 6 HGV's.”
Miles continues; “There was no mention of the fuel duty freeze, is this good or bad news? Can we assume the freeze is hotting up and duty will now increase from 2016? Watch this space.”
“In other news your alloy wheels can get some relief as there will be a permanent £250-million pothole fund. In addition there is a plan to tackle the "where there is blame, there is a claim" culture with a crack down on insurance fraud and a statement of intent regarding the Ultra Low Emission Vehicles that the Government will support directly.”
So some positives and negatives have come out of this year’s statement for the fleet industry. Let us know what your thoughts are on the Autumn Statement this year and how this will affect your fleet in the comments section below.