Rental industry should unite to urge VED reform, says Meridian
The vehicle rental sector should unite to urge the Government to reform the current “unbalanced” method of calculating Vehicle Excise Duty, says Meridian Vehicle Solutions.
The company believes that the system of having a first-year registration charge disproportionately affects the rental sector, while the rebate system for vehicles that are sold with VED outstanding is also open to question.
Phil Jerome, managing director at the medium term rental specialist, said: “The daily rental sector performs a crucial role in the economy, supporting businesses, tourists and consumers, while also providing a regular, sustained market for new cars.
“There is perhaps a tendency in the rental sector to think that VED is a necessary evil that cannot be changed and certainly it is difficult to get governments to alter their views in this kind of area, but we could at least speak with one voice and raise our concerns.
“Certainly, as more hybrids and EVs make their way onto the market, it is perhaps inevitable that the VED system undergoes further reform in the not-too-distant future, and we should be ready with a coherent view and recommendations.”