Budget 2010: GE Capital response
'Yesterday’s Budget announcement has very little impact on fleets. Whilst the Government announced that company car tax would be halved for cars emitting between 1 and 75g CO2 per km, these vehicles do not currently feature on fleet policies and are yet to be produced on the mass market. Furthermore, the Government’s statement that this move will contribute to making the UK one of the best places in the world to design and build low-carbon vehicles is not substantiated. In order for the research, development and ultimately the building of ultra-low carbon vehicles to be stimulated in the UK, the Government must look to support UK manufacturers, not the end users who could still source such vehicles from any country of origin.
'While the phasing of the rise in fuel duty is welcome news for fleets in the short term, it is little consolation when the cost of petrol and diesel is constantly rising. Current forecourt prices are at a similar level to prices back in July 2008, despite the fact that crude oil prices are significantly lower. It will be interesting to see the outcome of the finance bill and if, as a result of a change in government, we see a second Budget with far more serious consequences for fleets and road users alike.'For more of the latest industry news, click here.