Follow the Summer Budget with BusinessCar
08 July 2015
Author: Daniel Puddicombe
BusinessCar will be providing comprehensive coverage of today's emergency Summer Budget from 12.30pm.
Chancellor George Osborne is expected to slash various departmental budgets in a bid to save the country money, and there have been repeated warnings in the past few weeks of fuel duty hikes and cuts to schemes encouraging people to switch to ultra-low emission vehicles.
The BVRLA called on the Government to recalibrate vehicle-related taxes to stimulate the adoption of greener vehicles as part of its pre-Budget submission.
Jay Parmar, BVRLA director of policy, said: "Vehicle-related taxes are vitally important to support this growing marketplace.
"The Budget is the opportune moment to give motorists the certainty, stability and financial incentive to choose a low-emission vehicle. Our members operate the greenest and safest vehicles on UK roads, but they're hampered by the current tax regime."
Elsewhere, the BVRLA called on the Government to reinstate the first-year capital allowances for leased cars. Since 2013, only vehicles that have been purchased outright are eligible for first-year allowances, which provide a financial advantage for cash-rich businesses over less established SMEs.
Furthermore, the BVRLA would also welcome Government incentives for vehicle telematics and driving technology that can better assist journey planning and more fuel-efficient driving, leading to reduced emissions.
Keep your eyes peeled on Businesscar.co.uk/budget for all the latest news from today's Budget.