Both the Road Haulage Association and the Freight Transport Association have expressed disappointment with the lack of concessions for the transport industry in this Budget. Despite the continued freeze on fuel duty, Christopher Snelling, Head of Policy for the FTA made it clear that a cut in the duty would have made a huge difference to the industry
“At a time when British business is under extreme pressure to prove its credentials and reinforce existing trading relationships, Mr Hammond has missed an opportunity to cut these costs, and make the UK a more competitive place to do business” (Logistics Manager)
In contrast, the organisation FairFuelUK welcomed the decision to continue the freeze on fuel duty on behalf of its 1.5 million supporters (Logistics Manager).
Overall, The British Chamber of Commerce offered an optimistic response, praising the Chancellor on the continued freeze on fuel duty as a positive for businesses, especially the self-employed and smaller businesses. However, speaking on the change to business rates, Mike Spicer, Director of Economics for the Chamber, said
“The switch from RPI to CPI indexation is a step in the right direction. However, this still leaves firms facing a 3% increase in April. The government could have done more to boost confidence and productivity by going further, and abandoning the uprating altogether this year, given the climate of sluggish growth and uncertainty” (BCC)