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Your guide to the Spring Budget

Written by | Posted on 10.03.2017
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the road ahead

Philip Hammond’s Autumn Statement made this a period of fast change for fleets and their drivers. It legislated, among other things, for a revised approach to Salary Sacrifice that will come into effect this April. This includes Optional Remuneration Arrangements predominantly in use by ‘perk’ drivers where employees have a choice between taking cash allowance or company car. LeasePlan are prepared for these changes – and we’re confident about the future of Salary Sacrifice and the benefits it can bring for our customers.

Perhaps because of the magnitude of his Autumn Statement, the Chancellor’s Spring Budget was relatively light in size and content – but this certainly doesn’t mean that it was empty. We’ve summarized its most important policies and economic forecasts in this short briefing document which you can download here: LeasePlan Guide to the Budget 2017

It covers :

The economic and fiscal forecasts

The Chancellor emphasized the good news: the official forecast for economic growth this year has been revised up, from 1.4% to 2.0%. But what about the years to come? And how well is Hammond sticking to the fiscal rules he set in November? We answer these questions and more.

Policies for motorists

Whether it’s the Fuel Duty freeze Hammond announced in November, the VED freeze for HGVs he announced on Wednesday, or the changes to taxes for diesel vehicles that he hinted are coming soon, this is where you’ll find the policies with the largest direct effect on motorists and fleets.

When economic conditions and government policies are changing, it’s essential to stay informed – we hope this guide will do just that.

For further information please speak to your LeasePlan Account Manager or contact a member of the LeasePlan Consultancy Services team on :

Tel:  0344 371 8032
Email: consultancyservices@leaseplan.co.uk

 

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