Budget 2013: Reaction from Leaseplan
20 March 2013
Author: Jack Carfrae
David Brennan, managing director of the UK's second largest leasing company, Leaseplan, said of fuel duty: "Cancelling September's planned fuel duty hike is welcome news for drivers alongside the continuing commitment to scrap the fuel duty escalator.
"UK fuel prices are already among the highest in the world, and a major cost for corporate fleets. This decision will help ease the burden for UK motorists, delivering an average annual saving of around £65 per vehicle from September, when the 3.02p per litre price hike was due to start. For companies running sizeable fleets, that adds up to a meaningful saving."
Addressing infrastructure investment, he said: "The Chancellor's extra £3 billion annual infrastructure spend will help deliver much-needed road improvements. Keeping Britain moving is vital to keep the economy growing.
"However, starting this investment from 2015/16 does not help today's drivers, who face congestion and delays, hamper business mobility and efficiency. We urge the Government to move quickly to deliver road upgrades around the country."
Addressing incentives for ultra-low carbon vehicles, he said: "The Chancellor's decision to apply tax incentives for manufacturing ultra low emitting vehicles will deliver greater choice for business drivers.
"This decision signifies a return to the sensible policy of incentivising environmentally-friendly vehicles. Zero-carbon vehicles should still be the industry's aim, but this will require a long-term commitment in changing infrastructure."
Finally, he touched on corporation tax: "Support for British business is critical in this challenging economy, and companies will benefit from the further 1% cut in corporation tax, creating a single tax rate for all businesses."