YOU probably breathed a sigh of relief when the Chancellor announced that next year’s planned 1.6p a litre rise in fuel duty was going to be frozen.
It means that fuel duty will have been put in the deep freeze for almost four-and-a-half years, the longest cessation of rises for more than 20 years.
And, according to the Chancellor George Osborne, the government’s strategy on fuel duty since 2011 would save each company car driver £680 by 2015/16.
For those small businesses and trades running a van, the saving would be £1300, said Mr Osborne.
Those businesses running their company cars on alternative fuel were also looked after.
The government wants a movement to cleaner, cheaper fuel, so the existing price difference between the main rate of fuel duty and the rate for road fuel gases such as Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG) would be held for 10 years until March 2024.
Those running Range Rovers converted to LPG will no doubt feel suitably vindicated.
The differential between the main rate and the LPG rate will continue to reduce by 1p a litre each year to 2024. The Government says it will review the impact of the incentives on vehicle uptake and the public finances at Budget 2018.
The Chancellor said: “This will provide businesses with the certainty they need to invest in alternatively fuelled commercial vehicles, supporting the de-carbonisation of the UK transport sector and contribute to reducing the transport fuel costs of businesses.”