Freeze on Fuel Duty

It’s that time of year where we’re all too familiar with the term ‘freeze’ but there’s a reason to feel a little warmer now thanks to the recent announcement in the autumn Budget!

 

It has been announced by Philip Hammond that the Fuel Duty will be frozen until April 2018. It had previously been planned that there would be a 2p hike putting the cost at each tank of petrol at £1.36.

 

Fuel duty will now continue as it has for the past 5 years i.e. 57.95p per litre. Should the 2pence hike have gone ahead it would have cost even the smallest households a further £120 per year.

 

There was further good news for motorists with the announcement of £1.3billion to be spent on Britain’s road networks over the coming years. It was stated that £27million of the spending will go towards a new ‘superhighway’ between Oxford and Cambridge via Milton Keynes.

 

It was also confirmed that the tax savings on salary sacrifice and benefits in kind will be stopped however those driving ultra low emission car however will not have their benefits stopped.

 

It sounds to us like there’s been no better time you get yourself on the road and who better to assist you than Cocoon? Why not get in touch today and discuss your requirements? We offer leasing deals on everything from budget Fiat 500’s and Citroen C1’s to supercars, plus everything in between! Need a van? We can help with that too. Give us a call on 01332 298173 or complete the form below and we’ll be in touch as soon as we can.

 

Your Name (required)

Your Email (required)

Your Contact No.

Subject

Your Message