Autumn Budget 2024: T&L Budget Wish List

With tight margins in the industry, suddenly reintroducing fuel duty increases would have a massive impact. This wouldn’t just affect hauliers; we must remember that everything we buy has to be transported, so there is a risk of driving up costs across the entire supply chain, ultimately contributing to inflation.

The RHA has put forward a strong case for implementing an essential user rebate, which, if adopted, could help mitigate costs for both the industry and the supply chain, while still raising additional funds for the treasury.

Concerns around capital gains are significant. It’s important to consider the structure of the industry, which includes many family-owned businesses where the next generation often isn’t interested in taking over. As a result, owners face the challenge of how to realise the value they’ve built over the years, typically by selling the business.

With potential changes to capital gains tax (CGT) and the loss of Business Asset Disposal Relief (BADR), owners may end up paying significantly more when selling their businesses. This raises questions about their commercial future—whether they will have to work longer, delay sales, or accept reduced offers from larger consolidators.

There appears to be a strong push towards green technology, with significant progress being made. However, SMEs and owner-managed businesses (OMBs) are asking for more support in this area. While it’s feasible for larger players to take on the associated risks, for smaller operators, the risk represents a much larger percentage of their business. This raises the question: what more can be done to encourage and support the adoption of greener technology among smaller businesses?