How the Spring budget has affected fuel duty
On the 15th of March, Chancellor Jeremy Hunt delivered his Spring budget, outlining the UK government's plans for the economy in the coming months. One key area of interest for motorists was how the budget would affect fuel duty. Here at Intack Self Drive, we’ve been providing reliable car hire, van hire, and minibus hire services for over 50 years, so we’ve always taken care to stay in the loop with all the latest news regarding the UK’s driving legislation. So since fuel duty constitutes one of the key concerns of so many drivers at the moment, let’s take a quick look at what the latest Budget has to say?
What was anticipated
Last Spring, then Chancellor, Rishi Sunak announced a 5p cut per litre to fuel duty, which was welcome news to private and commercial drivers alike at the time. Originally, this was meant to end come April 2023, which is what was anticipated by many to be the case going into the 2023 Spring budget announcement.
What does the new budget mean for fuel duty?
Much to almost everyone’s relief, the assumed increase in fuel duty will not be taking place. In his speech to Parliament, the Chancellor said that the that duty drivers pay on fuel will remain at 53p per litre for another year, citing the ongoing cost-of-living crisis as the rationale behind his decision. He also pushed back the planned increase in fuel duty in line with inflation, which was due to come into effect in April.
In short - this means fuel duty will remain the same until April 2024 at the very least, and given the financial pressure that countless people in Britain are currently experiencing, it’s definitely a decision that’s been received positively. Howard Cox, the founder of campaigning group Fair Fuel UK, added: “Today’s favourable fiscal announcement will be received very well by motorists, small businesses, low-income families, and truckers.”
Frozen fuel duty isn’t the only positive to have come out of the Spring budget for motorists. The government also announced extra funding to tackle pothole repairs up and down the country. The £200m funding scheme will boost the amount of money local councils are given to resurface and repair country roads, and will be launched in the coming weeks.
Some in the motor industry however have hinted that this isn’t enough. Nicholas Lyes, Head of Roads Policy and Public Affairs for RAC said that the fund was "unlikely to make a big difference to the overall quality of our dilapidated local roads, and he may have a point - a study of more than 12,000 people by the AA found 53 percent of those living in the north-west and south-east of the country said their local roads are well below par. So, until this new funding scheme is put into action, we’d advise keeping an eye out for pesky potholes when you’re out in your own vehicle or one of ours!
All of our rental vehicles here at Intack Self Drive come with the option to rent through daily hire, or our outstanding Flexi hire service, so wherever your intended destination, we’ll have a vehicle that suits your requirements. We’ve got over 50 years of car hire, minibus hire, and van hire experience under our belt here at Intack, and we’re always here to help. Ready to get started? You can browse the best hire deals right here on our site, or give us a call on 01254 57811!