Spring Budget: VED rates rise
The Spring Budget brought another freeze for both the VED rates for hauliers and the HGV Road User Levy but there was no reprieve for the new VED rates, which take effect from 1 April 2017 for newly registered cars.Peter Golding, managing director, of FleetCheck, said the news was “disappointing” and added that the new regime “makes little sense for fleets” while Matt Sutherland, COO of Alphabet, said the new rates may provide a disincentive for the take-up of ULEVs.
And Gerry Keaney, BVRLA chief executive, warned of the impact on the car car hire industry, which will see its first year VED bill rise by almost 400% in 2017.
The Budget document also announced that from 1 April 2017 VED rates for cars and vans registered before that date increase by RPI.
For more of the latest industry news, click here