Park Logisitics - Creating Supply Chain Solutions

Park Logistics - Creating supply Chain Solutions

Creating Supply Chain Solutions
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Budget latest: Fuel duty to rise in August

  • 21 March 2012
  • By derren hayes

The Government is to go ahead with the 3.02ppl rise in fuel duty planned for August, the chancellor of the exchequer George Osborne has announced.

Speaking during today’s Budget Mr Osborne said that there would be “no change in the fuel duty plans already set out”, resisting calls from the haulage industry to freeze tax levels as was done in 2011.

Other Budget headlines for the logistics and road transport industry include:

*Vehicle excise duty to be frozen for hauliers
*Fuel duty rises to be pegged at inflation levels until oil prices drop to £45/barrel, nearly half the current level
*Royal Mail pension fund assests and liabilities to be transferred to the Treasury to encourage more private sector investment
*A review of air capcity in the South East to report by the summer
*Investment in schemes to develop transport infrastructure in the North West

Stay tuned to CM.com for full industry reaction.

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Article source: http://www.commercialmotor.com:80/latest-news/fuel-duty-to-rise-in-august