commercial property lambert smith hampton

Viewpoint - 08/07/2015

Logistics sector to benefit from new Roads Fund

Plans to redeploy Vehicle Excise Duty (VED) directly into a new UK Roads Fund, as outlined by Chancellor George Osborne in today’s Summer Budget, are good news for the country’s logistics sector.

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Under plans announced earlier, all revenues from VED will be used solely for improvements to Britain’s road network from 2020.

In a sector where time is critical to success and margin, improvements in the road network can have a significant impact.

Additional investment in our road infrastructure is desperately needed, so earmarking the £6bn that is raised each year through VED for direct investment into the UK’s road network is an important step in the right direction.

Whether this is in addition to the previously announced £15bn roads investment in the ‘Investing in Britain’s Future’ report is unclear, but the uninterrupted flow of investment from road users into the network will be welcomed by the logistics industry.