The government’s chief financial minister takes the top spot for the huge impact his financial decisions will have on fleets and the green motoring sector.
His Autumn Statement announced plans to invest £390 million to support ultra-low emission vehicles (ULEVs), renewable fuels and connected and autonomous vehicles by 2020-21. The charging infrastructure for ULEVs will receive £80 million, while £20 million will go towards developing alternative fuels for heavy goods vehicle fuels and aviation. Meanwhile, driverless vehicles will get a boost from £100 million investment. In addition to this, £150 million will support the adoption of low emission buses and taxis.
The Autumn Statement also included plans to encourage businesses to adopt electric vehicles by offering 100 per cent first-year allowances to companies investing in charge-points for electric vehicles until March 2019. The statement also revealed that fuel duty will remain frozen for the seventh successive year and a new range of company car tax bandings for ultra-low emission cars will be applicable from April 2020
Phillip Hammond’s involvement in Brexit talks will also have an impact on all sectors, with Hammond calling for a transitional deal where Britain would pay for access to the single market for about 24 months after leaving the EU. Hammond is no stranger to transport issues as he was previously Secretary of State for Transport from 2010 to 2011. He has been in his current role since July 2016.