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News and Updates from CVSL

Tony Poole of CVSL – home to car and van leasing, reviews the Spring Budget and its impact on drivers.

As the Spring Budget was mainly focussed on funds made available to tackle the fear of a recession, there were some positive announcements for motorists, as Chancellor Rishi Sunak announces extra budget to improve the UK’s road infrastructure.

What does the Spring Budget mean for motorists?

Fuel Duty frozen
The duty on fuel remains frozen for a decade, bringing an annual £1200 saving on average.

Improving infrastructure
The Chancellor has announced £27bn to fund 4000 miles of road including new junctions and better connections to airports and ports.  An initiative welcomed by motorists around the country is the Government’s commitment to filling 50 million potholes by the end of the current parliament; £2.5bn has been set aside for this.

Electric Vehicles
In the electric market, the Government has promised to continue its commitment to support motorists choosing to switch to an electric vehicle by extending the plug-in grant until 2022/23 and being exempt from Vehicle Excise Duty.  The Chancellor announced an increase in charging points across the country; EV drivers should never be further away than 30 miles from a charging point.

Tony Poole, Managing Director at CVSL comments on the Spring Budget 2020 ‘’ We welcome the extra budget made available to improve the UK’s road network. Many motorists are fed up with delays on our road network as well as the vast amount of potholes. We are also pleased that the Chancellor has announced to extend the plug-in grant until 2022/23 as this will encourage motorists to choose an electric vehicle.”

For more information about leasing an electric vehicle, visit our dedicated Electric Car Van Leasing website.