Autumn Budget 2024 – IAM RoadSmart reaction

IAM RoadSmart Reacts to Autumn Budget 2024: Highlights Fuel Duty Freeze

Announcements:

Fuel duty (frozen)

IAM RoadSmart Policy and Public Affairs Manager William Porter said: “We welcome the Chancellor’s decision to maintain the fuel duty cut, at least for now. Motorists have endured a torrid few years of high prices at the pumps and this decision will give them a much-needed boost. We separately welcome the commitment to introduce the Fuel Finder scheme by the end of 2025, which should increase pricing transparency at the pumps."

Pothole funding (proposed £500m boost)

IAM RoadSmart Director of Policy and Standards Nicholas Lyes said: “Any additional funding to fix our crumbling and potentially unsafe roads is welcome, but with one-off repair bill of over £16bn, the amount promised by the Chancellor is a drop in the ocean of what is required. Given the risks that potholes pose to both drivers’ wallets and riders’ safety, we need a longer-term approach to funding so councils can prioritise resurfacing work where it is most needed.”

Vehicle Excise Duty (increased on first year)

IAM RoadSmart Director of Policy and Standards Nicholas Lyes said: “Increasing vehicle excise duty on all but zero emission vehicles in the first year will hit those buying new conventional vehicles in the pocket. A better solution to incentivise the take-up of electric vehicles would have been to cut VAT on the sale of new electric vehicles with list price of £40,000 and under.”

What was not announced:

Insurance Premium Tax

IAM RoadSmart Policy and Public Affairs Manager William Porter said: “At a time when insurance premiums are at near record highs, not using the Budget as an opportunity to reduce insurance premium tax for young drivers who undertake additional training is a missed opportunity to both reduce their premium costs and improve road safety. Younger drivers have seen their quotes skyrocket into the thousands and sadly risks many in this age group being priced out.”

Older drivers (no support for mature driver assessment)

 IAM RoadSmart Director of Policy and Standards Nicholas Lyes said: “We’re disappointed the Chancellor has missed this opportunity to provide support and peace of mind for older drivers in her Budget. Our plan for optional, free driving assessments for over-70s would have the benefit of boosting the confidence of older drivers and a potentially positive impact on reducing collisions on our roads.”

 VAT exemptions (motorcycle PPE)

 IAM RoadSmart Director of Policy and Standards Nicholas Lyes said: “Our campaign for motorcycle air vests and other protective clothing to be exempt from VAT will continue. Per billion miles travelled, motorcyclists are by far the most vulnerable road user and encouraging them to invest in life-saving riding gear that reduces fatalities and serious injury should be a priority for Ministers.”

Notes to editors

For interviews, contact the IAM RoadSmart press office on press.office@iam.org.uk / 020 8996 9777

About IAM RoadSmart

IAM RoadSmart is the UK’s largest road safety charity providing advanced driving and motorcyclist training. It has a vision of a society where all road users can safely and sustainably use the public highways together. IAM RoadSmart was formed in March 1956 and has around 75,000 members that supports its campaigns on road safety. At any one time there are over 7,000 drivers and riders actively engaged with IAM RoadSmart’s courses.

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