Responding to the Chancellor’s Spring Statement, Matthew Walters, Head of Consultancy & Data Services at LeasePlan UK, said:
On the economic forecasts:
“The economic outlook presented by the Chancellor today was little changed from the one he delivered in his Autumn Budget. Britain faces significant headwinds, with growth expected to be slower than normal for the foreseeable future.
“Of course, these forecasts must be taken with a pinch of salt. Much depends on the outcome of the Government’s EU negotiations – both for the economy as a whole and the automotive industry specifically.”
On the consultation on Vehicle Excise Duty for vans:
“We knew in advance that the Spring Statement would be light on policy. However, the Chancellor did make one announcement that will be of particular interest to fleets: a consultation into lowering the rates of Vehicle Excise Duty for the cleanest vans.
“This is welcome news. As a founding member of the EV100 initiative, LeasePlan is committed to low emissions. We strongly believe that vans should be part of this conversation as much as cars.
“However, it should be noted that the Government has already launched several consultations in this area – including one on electric vans – but is yet to announce the outcomes of them. If the Chancellor is to help us deliver on What’s next, then he needs to start confirming some of his policies.”
On Company Car Tax:
“Philip Hammond has again failed to announce the rates of Company Car Tax for 2021-22 and 2022-23. Many fleets and employees are now entering into 48-month leases that will stretch into those years, so they need clarity as soon as possible. The Chancellor must not fail to publish these rates in his Autumn Budget – if not before.”
EV100, a new global business initiative designed to fast-track the uptake of electric vehicles (EV) and infrastructure, has been launched by The Climate Group in New York as business and government leaders gather for Climate Week NYC. This is the only initiative of its kind to encourage global business commitments on electric transport, with members committing to transition their petrol and diesel fleets to electric vehicle fleets by 2030. LeasePlan is one of the ten founding partners of EV100.
More information about LeasePlan’s involvement with EV100 is available here: https://insights.leaseplan.co.uk/fleet-issues/environment/ev100-electric-mobility/.