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Budget 2017: NFDA CommentsBack

The National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle across the UK, comments on the measures announced in the Budget which took place on Wednesday 8 March.

UK Economy

The decision of the Office for Budget Responsibility (OBR) to revise growth forecasts for the year is a positive sign, which follows the better than expected performance of the UK economy over the final months of 2016 and its momentum in the beginning of 2017. We hope that the UK will continue to show its resilience in the upcoming months.

Infrastructure

The Government has confirmed that a further £690 million will be invested to tackle urban congestion in the UK and improve local transport networks.

UK roads development and maintenance was one of the crucial points outlined in the NFDA’s Budget submission and we are pleased to see that our concerns have been taken into consideration.

A safe and efficient transport infrastructure is essential for a strong economy. Reducing congestion, increasing safety and improving journey times, will clearly benefit the UK economy facilitating the movement of both goods and people. Developing a strong internal transport infrastructure is key to our national economic development.

Diesel

The NFDA is aware of the Government’s commitment to improve air quality in the UK and that it is to consult on a draft plan in the spring which will set out how the UK’s air quality goals will be achieved. This will include looking at the appropriate tax treatment for diesel vehicles.

Promoting the uptake of the latest low emission vehicles will bring substantial gains in air quality, but we urge the Government to have a coordinated approach with car dealers and manufacturers regarding this issue. We are looking forward to engaging with the Government ahead of making any tax changes at Autumn Budget 2017.

Business Taxation

It is extremely positive to see that no additional business taxes have been introduced. The NFDA asked for a period of stability following the introduction of the apprenticeship levy, increases in employer national insurance and changes to business rates. We are pleased to see that businesses’ concerns have been listened to and that the Government has remained committed to reduce the corporation tax over the next years.

Fuel Duty

It is positive to see that the fuel duty has again been frozen. This will support motorists in a period of possible uncertainty due to factors such as the oil price rise and the weakening of the sterling.

Personal Allowance

The Chancellor has announced that Personal Allowance will rise for the seventh year in a row by £500 to £11,500. This is positive news as more disposable income will continue to support consumer confidence, which drives not only our industry, but also the whole UK economy.

Research and Development

The UK wants to be at the forefront of modern transportation and further investments will continue to benefit the growth of the country and the automotive industry.

Education

The chancellor announced the introduction of T-Levels for technical training of 16-19 years old. These will reduce 13,000 qualifications to just 15. The NFDA will be monitoring the situation and taking a closer look at the details surrounding the Government’s introduction of T-Levels for 16-19 years old.

Consumer Affairs Green paper

The Consumers and Markets Green paper will be published shortly. It will look at developing proposals to protect consumers from facing unexpected payments when a subscription is renewed or when a free trial ends and considering how to make terms and conditions clearer, simpler and shorter. A transparent and fair relationship is beneficial to both businesses and consumers. The NFDA, in line with its members’ views, supports the measure.

The NFDA is now looking at the Budget in detail to analyse the full impact of this on the retail motor sector.

Posted by Sue Robinson on 10/03/2017