Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential merits of a temporary suspension of fuel duty for the logistics sector to ensure the financial viability of haulage businesses during the covid-19 pandemic.
The Government recognises the extreme disruption to businesses caused by the COVID-19 pandemic. This is why the Government has announced unprecedented support for businesses, including a business rates holiday, grants to smaller businesses and a package of government-backed and guaranteed loans.
The Government has also taken steps to specifically support the logistics sector and haulage businesses. Budget announced that fuel duty would be frozen for a tenth consecutive year, and that HGV VED and levy rates would also be frozen again in 2020-21.
Haulage businesses have also benefitted from the reduced by price of fuel: diesel pump prices in the week of the 4th of May were down 20p per litre compared to a year ago.