11 February 2021
BVRLA writes to Government ahead of the Budget
Ahead of the Budget announcements on the 3rd March 2021 from the Chancellor of Exchequer, Rishi Sunak, the British Vehicle Rental and Leasing Association (BVRLA) has written to HM Treasury outlining fiscal measures to support the fleet sector’s recovery.
The vehicle rental and leasing industry supports over 450,000 jobs, adds £7.6 billion in tax revenues, and contributes £49 billion the UK economy every year, a crucial sector that needs support and protection from the Government.
The budget representation outlines three critical fiscal measures the BVRLA believes can accelerate the move to net zero transport system and help the fleet industry’s recovery –
- A one-year freeze in Vehicle Excise Duty (VED)
- ‘Lock In’ the previously announced Benefit-in-Kind freeze and publish 2025-26 rates
- Create a ‘Green Investment Allowance’ to unlock private investment in electric vehicle charging
In writing to the Government with its outlined plan the BVRLA hopes to secure clarity and certainty for the fleet industry at a difficult time.