Oct 30 2024

Fuel duty freeze welcomed by UK logistics sector

Speaking in response to today’s (30 October 2024) Budget announcement, David Wells OBE, Chief Executive of business group Logistics UK said:

“The Chancellor’s decision to freeze fuel duty for a further year is welcome news for the logistics sector. Nothing moves without logistics: the sector supplies our hospitals, schools, factories, shops and homes with everything they need, everywhere, every day. The sector is vital to any plans to stimulate growth across the economy, and this respite is welcome news for a sector already seeing increasing business failures over the last year.

“The sector operates on very narrow margins – often only 2.5% - with fuel representing a large proportion of the weekly operating cost for hauliers. Read more

Source: LOGISTICS UK