The motor industry today welcomed the Chancellor’s Pre-Budget
statement but remains cautious until further analysis of the detail.
The industry is pleased that the volume related tax credits
for research and development work have been granted. This will encourage companies
to invest in what is already a significant part of the UK automotive industry.
Manufacturers are keen to contribute to environmental consultations
announced this afternoon on vehicles, fuels and green technologies, which provide
real incentive for innovation.
The Chancellors announcement for the road haulage sector will
provide a long awaited level playing field for this hard pressed sector of industry.
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Note to Editors
There are 3.2 million commercial vehicles in
the nation’s road transport fleet. Some 500,000 of these are heavy trucks (over
7.5 tonnes). The operators of these heavy trucks should see most of the benefit
from the proposed VED reforms.
