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Budget offers Little for hauliers
Page 7
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IN AN EMERGENCY budget billed as the "unavoidable budget': Chancellor George Osborne (pictured) delivered a package of measures designed to cut Britain's soaring national debt. There was precious little announced directly for the road transport industry, with fuel duty meriting the briefest of mentions as Osborne promised no new duty increases According to sources close to the Treasury, the previously announced rises of 1 pilitre on 1 October and 0.76p/litre on 1 January 2011 will still go ahead.
Regardless of which. the price of fuel will increase thanks to the Chancellor's announcement of a 2.5% rise in VAT to 20% from 4 January 2011.
He also said that he would examine the potential for the introduction of a fuel price stabiliser, with a report due after the summer. Discounted fuel duty in remote rural areas will also be investigated, with a potential trial in Scotland.
With a spending review of planned infrastructure projects due to report in the autumn, the Chancellor said that the government would only go ahead with schemes that deliver "significant economic return to the country".
• For more detailed coverage on the emergency Budget, see www.roadtransport.com