LeasePlan’s Head of Consultancy & Data Services, Matthew Walters, comments ahead of The Chancellor’s Spring Statement on Tuesday 13th March.
“The Chancellor has said that he will not make any big policy announcements in his Spring Statement, but there is one urgent matter to which he should attend.
“Mr Hammond should use his Spring Statement to announce the Company Car Tax rates for 2021-22, and preferably for 2022-23 as well. With many employees entering into 48-month leases that will stretch into those years, they need to know these rates as soon as possible. Having failed to reveal these rates in the last few Budgets, the Chancellor must not now leave us waiting until November.
“If, as expected, the borrowing figures come in lower than previously forecast, the Chancellor should consider using any extra money to further improve in the nation’s charging infrastructure.
“More and more drivers and fleets are turning to electric vehicles, and that’s a welcome trend that should be encouraged. However, more investment is required to ensure that all motorists have access to chargepoints and that local electricity supplies can cope with higher peak demand.
“Finally, we would also welcome more detail on the £220 million ‘Clean Air Fund’ that the Chancellor established in his Autumn Budget. The consultation on this closed at the beginning of January, but the Government has still not revealed how this money will be spent.
Drivers everywhere will welcome clarity on what new measures will be introduced to support the shift to cleaner, greener motoring. LeasePlan will also welcome clarity around this so we can support our customers with What’s next in low emission vehicles.”
As the details of the Spring Statement start to take shape, you can keep up to date with everything you need to know here or follow our commentary live on Twitter @LeasePlanUK