Chancellor Invests an Extra £1.1bn in British Infrastructure

I have good news for you this month: a major investment is going to be made into the British transport network. With these improvements to the infrastructure, the government is hoping to create a more dynamic and better connected road system that will help improve businesses’ efficiency and cost-effectiveness. You will be just one of the many haulage companies to benefit immensely, as these plans mean there will be less congestion on the roads and by extension fewer delays to your journeys. You might also want to consider investing in low emission vehicles as they will become more affordable thanks to this new scheme.

An Extra £1.1 Billion Investment

Chancellor Philip Hammond, in his first Autumn Statement, committed to a £1.1bn extra investment by 2020. So, what will the additional money actually be used for? The supplementary funds will help to tackle traffic congestion and provide an upgrade for public transport networks and local roads. The aim is to help Britain’s growth and prosperity by expanding its reliable transport network and investing in vehicles of the future.

Tackling Congestion Benefits Haulage Companies

You are probably asking yourself how these changes benefit you. Well, £220 million has been put aside to ease traffic jams on motorways and A-roads at the most hazardous pinch points.

This will benefit haulage companies by:

• decreasing fuel consumption,
• decreasing operation costs,
• improving drivers’ journey and travel time,
• increasing their efficiency, and
• increasing client satisfaction.

As you well know, when vehicles are stationary they consume more fuel per kilometre travelled and the driver wastes his or her time. As such, travelling costs are high and the drivers’ journey is both unpleasant and inefficient (I can sympathise with their frustration!).

When the congestion on British roads eases, fleets will undergo fewer delays, which means that the operating costs will no longer be inflated and drivers will be much happier. Thanks to the new and improved road system, haulage companies like yourselves are also less likely to fall behind with their distribution schedules. This investment is your perfect opportunity to increase both your efficiency and your client satisfaction.

An Investment in Low Emission Vehicles

The government has also put aside £390 million to further increase Britain’s competitive advantage in low emission vehicles and help with the development of future transport technology, such as driverless cars, renewable fuels and energy efficient transport. An additional £80m investment is being made to install public charging infrastructure.

Take my advice: now is the ideal time for haulage companies to invest in electric and hybrid fleets. Not only do these vehicles have a better mileage and a smaller carbon footprint, but a 100% first-year allowance (FYA) for expenditure incurred on electric charge-point equipment has been put in place. Companies that install electric charge-points can deduct their cost from their pre-tax profits in that year. It is a win-win situation. Operations will be eco-friendlier, which will please the Environmental Audit Committee, and less expensive to run, which can only put a smile on your face!