{"id":2068,"date":"2017-10-29T13:16:47","date_gmt":"2017-10-29T12:16:47","guid":{"rendered":"http:\/\/en.advancedfleetmanagementconsulting.com\/?p=2068"},"modified":"2017-10-29T13:16:47","modified_gmt":"2017-10-29T12:16:47","slug":"what-does-the-2017-autumn-budget-hold-for-fleet-owners","status":"publish","type":"post","link":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/2017\/10\/29\/what-does-the-2017-autumn-budget-hold-for-fleet-owners\/","title":{"rendered":"What Does The 2017 Autumn Budget Hold For Fleet Owners?"},"content":{"rendered":"<h4 style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/10\/phillipp-osborne.jpg\"><img loading=\"lazy\" class=\"aligncenter wp-image-2069 size-full\" title=\"What Does The 2017 Autumn Budget Hold For Fleet Owners?\" src=\"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/10\/phillipp-osborne.jpg\" alt=\"What Does The 2017 Autumn Budget Hold For Fleet Owners?\" width=\"580\" height=\"200\" srcset=\"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/10\/phillipp-osborne.jpg 580w, https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/10\/phillipp-osborne-300x103.jpg 300w\" sizes=\"(max-width: 580px) 100vw, 580px\" \/><\/a><span style=\"color: #0000ff\"><strong>What Does The 2017 Autumn Budget Hold For Fleet Owners?<\/strong><\/span><\/h4>\n<p style=\"text-align: justify\">Historically the Autumn Budget has always been anticipated by fleet owners. Motorists have always been seen as a soft target by the government and commercial drivers doubly so. This year, however, with the economy in a state of uncertainty owing to Brexit, the urgent need to do something about the quality of the UK\u2019s air and with pressure mounting over climate change, drivers could be in for a bumpy ride come the 22nd of November\u2026<\/p>\n<p style=\"text-align: justify\">In our latest blog, Coversure Hull, the <span style=\"color: #0000ff\"><strong><a style=\"color: #0000ff\" href=\"https:\/\/www.coversure.co.uk\/hull\/fleet-insurance\">fleet insurance<\/a><\/strong><\/span> specialists, look at some of the possible announcements that could affect fleet managers and offer some advice as to how to manage these changes.<\/p>\n<h3 style=\"text-align: center\">Fleet Insurance Costs<\/h3>\n<p>If you\u2019ve asked for a <span style=\"color: #0000ff\"><a style=\"color: #0000ff\" href=\"https:\/\/www.coversure.co.uk\/hull\/insurance\/fleet-quote\/\" target=\"_blank\" rel=\"noopener noreferrer\">fleet insurance quote<\/a><\/span> this year, you\u2019ve doubtless noticed that the premiums quoted have been higher than in previous years. There are three main reasons for this, which are:<\/p>\n<ul>\n<li>Insurance Premium Tax (<span class=\"caps\">IPT<\/span>) rises<\/li>\n<li>Inflation<\/li>\n<li>Changes in the Ogden Rate calculations<\/li>\n<\/ul>\n<p style=\"text-align: justify\">Let\u2019s take each of these in turn, first off <span class=\"caps\">IPT<\/span>. Unfortunately, the smart money seems to be on this rising\u2026 again! The present standard rate of 12% \u2013 up from 9% in 2015 \u2013 is likely to rise as the government needs money and this is regarded as an easy picking. If we\u2019re lucky this jump may be held off until the Spring Budget but that\u2019s far from certain despite it having already gone up this year. <span class=\"caps\">IPT<\/span> increases are hated by the insurance industry as it\u2019s us who get it in the neck from customers as they see their premiums going up. If it does change then our advice is to get your fleet insurance quote and renewal in early so you can at least postpone paying more.<\/p>\n<p style=\"text-align: justify\">Inflation has now hit 3% \u2013 a five year high \u2013 and this has prompted calls for the Bank Of England to raise interest rates, pressure on which grew sharply when the <span style=\"color: #0000ff\"><a style=\"color: #0000ff\" href=\"http:\/\/www.bbc.co.uk\/news\/business-41747940\" target=\"_blank\" rel=\"noopener noreferrer\">latest UK growth figures<\/a><\/span> were better than expected. Such a rise could be a double whammy for fleet owners as insurers will seek to keep costs in line with inflation and increasing interest rates will make the cost of borrowing higher and add to pressure on their bottom line. While 3% inflation is still low and an interest rate change of \u00bc of 1 per cent will still leave rates near the historic low, the underlying trend on both looks to be upwards. In the mid-term, therefore, fleet owners need to look for ways to reduce fleet costs such as the use of <span style=\"color: #0000ff\"><strong><a style=\"color: #0000ff\" href=\"http:\/\/en.advancedfleetmanagementconsulting.com\/2017\/10\/15\/cutting-fleet-costs-with-telematics\/\" target=\"_blank\" rel=\"noopener noreferrer\">telematics<\/a><\/strong><\/span> and by switching to cheaper, more efficient <span style=\"color: #0000ff\"><strong><a style=\"color: #0000ff\" href=\"http:\/\/en.advancedfleetmanagementconsulting.com\/2017\/10\/10\/2044\/\" target=\"_blank\" rel=\"noopener noreferrer\">electric fleets<\/a>.<\/strong><\/span><\/p>\n<p style=\"text-align: justify\">The Ogden Rate could bring some (much needed) good news, or at least the reversal of some of the awful news that March\u2019s changes heralded. It\u2019s already been reported that the government are considering moving the rate to between 0% and 1% and the Budget could bring some welcome news on this. Any confirmation on the rate\u2019s increase could have a big impact on fleet rates.<\/p>\n<h3 style=\"text-align: center\">Diesel Vehicles<\/h3>\n<p style=\"text-align: justify\">2017 hasn\u2019t been kind to diesel drivers and it looks more than likely that they will be subjected to further taxation through increases in fuel duty. Under significant pressure to reduce levels of air pollution, the government have waged <strong><span style=\"color: #0000ff\"><a style=\"color: #0000ff\" href=\"http:\/\/en.advancedfleetmanagementconsulting.com\/2017\/10\/17\/2054\/\" target=\"_blank\" rel=\"noopener noreferrer\">war on diesel vehicles<\/a><\/span><\/strong> and have announced that they will be banned from our roads by 2040. With fuel costs back on the rise owing to troubles in Iraq and <span class=\"caps\">OPEC<\/span>\u2019s decision to cut production, any increase in fuel duty is not exactly helpful. Long-term the solution seems to be to go for electric fleets, though in the short-term the best thing to do is to reduce fuel consumption through the use of telematics, driver training, new vehicles and looking into hi-tech solutions \u2013 such as virtual meetings \u2013 to reduce overall mileage.<\/p>\n<h3 style=\"text-align: center\">Electric Vehicles<\/h3>\n<p style=\"text-align: justify\">Much as the government hates diesels, its love affair with electric vehicles seems to be blossoming and we\u2019re confident there will be more sweetheart deals for electric vehicles in the Budget. More electric vehicle subsidies, an extension of the scrappage scheme, more investment in charging infrastructure and more tax and other incentives for fleets to go green also seem highly likely.<\/p>\n<p style=\"text-align: justify\">Electric vehicles are good for the government on a number of levels; environmental, sustainability and as a way of creating a new car industry in this country, so it\u2019s a trend that\u2019s only going to continue. At Coversure Hull we\u2019ve been monitoring the whole idea of electric fleets carefully for some time now, and with each passing year we\u2019ve become more and more convinced of their feasibility and inevitability. Indeed, we are now seeing a steady stream of requests for<span style=\"color: #0000ff\"><strong> <a style=\"color: #0000ff\" href=\"http:\/\/en.advancedfleetmanagementconsulting.com\/2017\/10\/10\/2044\/\" target=\"_blank\" rel=\"noopener noreferrer\">electric car insurance<\/a><\/strong><\/span>, an increase that echoes the dramatic increase in the number of electric vehicles sold \u2013 35,000 have been sold in the UK this year so far.<\/p>\n<h3 style=\"text-align: center\">Salary Sacrifice Changes<\/h3>\n<p style=\"text-align: justify\">This has been an area that\u2019s been in a state of flux since the government announced changes to the rules around taxation in April, changes that led to a whirl of confusion. The central point, around how the new rules should consider only the amount sacrificed for the car itself and not any associated services such as maintenance, has now been clarified and this could well be set in stone in the Chancellor\u2019s upcoming statement. The tax changes announced in April will leave most unaffected, but fleet owners must talk to their fleet providers to ensure they have the right vehicles on their lists.<\/p>\n<h3 style=\"text-align: center\">What Does The 2017 Autumn Budget Hold For Fleet Owners?<\/h3>\n<p style=\"text-align: justify\">Like most Budgets, this one will deliver a mixture of pros and cons and a lot will depend on your fleet\u2019s size and make up. Those will older, higher polluting vehicles \u2013 such as those with grey fleets \u2013 are likely to be in for more expense. If you\u2019re looking to invest in green technology then it\u2019s likely to be a good Budget for you and those who are investing in telematics and other cost saving measures could also prove to be winners.<\/p>\n<div class=\"description e-content\">\n<h3 style=\"text-align: center\">Like Some More Help?<\/h3>\n<p style=\"text-align: justify\">Well we hope that\u2019s given you some food for thought. If you\u2019d like to know more about saving money on your fleet costs, or would like some help getting the fleet insurance cover that\u2019s right for you, then please contact us. You can call us free on <strong>0800 977 6037<\/strong>, email us by <strong><span style=\"color: #0000ff\"><a style=\"color: #0000ff\" href=\"mailto:hull@coversure.co.uk\">clicking here<\/a><\/span><\/strong> or get a no-obligation <span style=\"color: #0000ff\"><strong><a style=\"color: #0000ff\" href=\"https:\/\/www.coversure.co.uk\/quote\/insurance\">insurance quote here<\/a>.<\/strong><\/span><\/p>\n<\/div>\n<p><a ref=\"magnificPopup\" href=\"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/09\/coversure.jpg\"><img loading=\"lazy\" class=\"size-medium wp-image-1989 aligncenter\" src=\"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/09\/coversure-300x157.jpg\" alt=\"coversure\" width=\"300\" height=\"157\" srcset=\"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/09\/coversure-300x157.jpg 300w, https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/09\/coversure.jpg 709w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p style=\"text-align: justify\">Coversure Hull is an independent fleet and business insurance specialist. From our base on the banks of The Humber, we offer comprehensive commercial vehicle cover, with particular focus on fleet and special types, alongside other essential business covers, namely commercial combined and liability.<\/p>\n<p style=\"text-align: justify\">Since opening in 2005, our combination of superb service and outstanding value for money business policies have established us as the insurer of choice for organisations both large and small.<\/p>\n<h3 style=\"text-align: justify\">Coversure Hull: We Mean Business<\/h3>\n<p style=\"text-align: justify\">We have made it our business to protect your business. Whether you need fleet, landlord, liability or commercial combined insurance, we can offer you high quality cover from some of the UK&#8217;s leading insurers, all at highly competitive premiums that&#8217;s backed by our outstanding cover-to-claim service.<\/p>\n<h3 style=\"text-align: justify\">Contact Us Today<\/h3>\n<p style=\"text-align: justify\">For a friendly independent service and great value cover, contact Coversure Hull today. You can call us on Hull <b>(01482) 434343<\/b>, for free on <b>0800 977 6037<\/b> or you can email us by <span style=\"color: #0000ff\"><a style=\"color: #0000ff\" href=\"mailto:hull@coversure.co.uk?subject=Website%20Enquiry\">clicking here<\/a>.<\/span><\/p>\n<p style=\"text-align: justify\">We look forward to helping you with your requirements.<\/p>\n<p style=\"text-align: justify\"><b>Andy Price<\/b><br \/>\nManaging Director<\/p>\n<h5 style=\"text-align: center\"><span style=\"color: #0000ff\">Join to The Fleet Management Group<\/span><\/h5>\n<p style=\"text-align: justify\"><a href=\"https:\/\/www.linkedin.com\/groups\/8603639\"><img loading=\"lazy\" class=\"alignnone size-full wp-image-1677\" src=\"http:\/\/en.advancedfleetmanagementconsulting.com\/wp-content\/uploads\/2017\/04\/Logo.jpg\" alt=\"Logo\" width=\"3995\" height=\"882\" srcset=\"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/04\/Logo.jpg 3995w, https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/04\/Logo-300x66.jpg 300w, https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-content\/uploads\/sites\/3\/2017\/04\/Logo-1024x226.jpg 1024w\" sizes=\"(max-width: 3995px) 100vw, 3995px\" \/><\/a>In this group, you can know and share knowledge, experiences and meet people interested in Fleet Management over the world. Each week we publish posts, conferences, news, scientific papers, and technology related to Fleet Management.<\/p>\n<h5 style=\"text-align: center\"><span style=\"color: #0000ff\"><a style=\"color: #0000ff\" href=\"https:\/\/www.linkedin.com\/groups\/8603639\/profile\" target=\"_blank\" rel=\"noopener noreferrer\">The fleet management group<\/a><\/span><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>What Does The 2017 Autumn Budget Hold For Fleet Owners? Historically the Autumn Budget has always been anticipated by fleet owners. Motorists have always been seen as a soft target by the government and commercial drivers doubly so. This year, however, with the economy in a state of uncertainty owing to Brexit, the urgent need&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[103],"_links":{"self":[{"href":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-json\/wp\/v2\/posts\/2068"}],"collection":[{"href":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-json\/wp\/v2\/comments?post=2068"}],"version-history":[{"count":0,"href":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-json\/wp\/v2\/posts\/2068\/revisions"}],"wp:attachment":[{"href":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-json\/wp\/v2\/media?parent=2068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-json\/wp\/v2\/categories?post=2068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/wp-json\/wp\/v2\/tags?post=2068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}