Today’s Autumn Statement focused on maintaining economic recovery, reducing the deficit, looking to build a “Northern powerhouse” and showing support for SMEs and the country’s future infrastructure.
In a statement, the Government said: ‘This Autumn Statement focuses on key productivity drivers including infrastructure, higher-level skills and innovation.’
Fuel duty:
The Chancellor has confirmed in his Autumn Statement thatthe freeze in fuel duty will remain in place – as expected by many – despite falling oil prices.
Mr Osborne said: ‘Despite falling fuel prices let me make this clear: we’ve cut fuel duty and we will keep it frozen.’
This follows on from his confirmation in the 2013 Autumn Statement that fuel duty would be frozen for the rest of this Parliament.
However Mr Osborne stopped short of offering a further cut.
The Government added that action on fuel duty since 2011 will save a typical motorist £675 by the end of 2015-16.
The DfT said that it will begin work early next year on trialling a new fuel comparison sign at five service stations on the M5 between Bristol and Exeter, with a view to introducing the signs by the end of 2015, to help promote competition and lower fuel prices.
And the Government also said the price-based trigger point for changes to both the supplementary charge and fuel duty, set by the Fair Fuel Stabiliser in 2011, will be abolished.
Road Investment Strategy
As revealed earlier this week, the Government is committing £15bn between 2015-16 and 2020-21 to continue the transformation of the Strategic Road Network.
Announced by Transport Secretary Patrick McLoughlin and Chief Secretary to the Treasury Danny Alexander, the move sees the Government invest in more than 100 new road schemes over this parliament and next, including 84 newly announced schemes.
Other announcements include the publication of the outcome of a feasibility study on improved connectivity at Leeds Bradford International Airport.
Ultra low emission vehicles
An additional £10m will be made available between 2017-18 and 2019-20 to increase the number of ultra-low emission vehicles – including electric, plug-in hybrid and hydrogen fuel cells – operating in London, ahead of plans to introduce an Ultra-Low Emission Zone by 2025.
Three new funding pots, totalling £85m, will support the roll-out of ultra-low emission taxis, buses and cities, while up to £50m will be invested to support innovation in manufacturing ultra-low emission vehicles in the UK, of which the government will contribute half the funding with the rest sought from industry.
The announcement is in addition the £15m set aside to install rapid charging points at 20-mile intervals along the UK’s major routes between 2015-16 and 2020-21, and the majority conversion of the Traffic Officer Fleet to Ultra-Low Emission Vehicles, revealed in the Roads Investment Strategy earlier this week.
In addition, the Government will provide up to £4m to extend the Clean Vehicle Technology fund in 2014-15, which funds road vehicle modification by local authorities in order to reduce air pollution.
