The second Budget of the year was aimed at allowing Britain to ‘seize the opportunities from Brexit’ and build a prosperous and inclusive economy, said the Chancellor.
For fleet operators, there were a number of new initiatives of note, including new diesel taxes, a freeze in fuel duty and investment in electric vehicles and recharging infrastructure.
Here’s a summary of the announcements:
Inflated Vehicle Excise Duty for NEW diesel vehicles – The Chancellor announced that there would be a road tax increase for new diesel cars registered from April 1st, 2018. Diesel drivers will have to pay one band higher car tax than they currently do for their first year, before reverting to the £140 a year vehicle excise duty flat rate. If diesel cars
Driverless cars – The government
Push for electric vehicles – The government have allocated £100 million to encourage drivers to switch to electric vehicles by guaranteeing the continuation of the Plug-In Car Grant to 2020 to help with the cost of purchasing a new battery electric vehicle. Currently under the Plug-In Grant, drivers can receive a £4,500 contribution towards a new all-electric car and £2,500 towards a plug-in hybrid.
A further £400 million will be allocated to support the growth in electric vehicle recharging infrastructure across the UK. Recharging plug-in electric vehicles in the workplace will not now be seen as a Benefit-in-Kind as it had been previously.
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