NEXUS COMMENTS ON GOVERNMENT’S EMERGENCY BUDGET

All comments attributable to James Maden, Sales and Marketing Director at Nexus Vehicle Rental.

Hearing the government’s plans to “unleash the power of the private sector” to “make the UK’s economy one of the most successful in the world” through tax incentives and investment zones is encouraging, however, the devil will be in the detail when the scale and scope of this is revealed in time.

While we welcome the government’s renewed focus on mitigating barriers to infrastructure projects in the UK, this must particularly include much needed development of our road and charging networks to drive the transition to electric vehicles quickly. As we move ever-closer towards the 2030 ban on petrol and diesel vehicles, and of course, the ambition for Net Zero in 2050, there is a big job to do in supporting businesses in the transition to greener fleets given rising energy costs.

pwFurther corporation tax cuts and incentives announced today should buoy industry, but anticipated ongoing challenges mean businesses will likely remain cautious for the immediate future. The additional support announced will act as a small relief for the fleet industry against a backdrop of continued supply shortages and ongoing challenges associated with this – particularly as we approach peak season for the fleet rental sector.