Budget briefing

Chancellor of the Exchequer George Osborne delivered his second Budget yesterday (Wednesday) against a background of a shortage of public finance and inflation rising to 4.4% from 4% in January. The Chancellor said he did not need to impose further pain – that had already been announced in previous Budgets with a number of measures due to come into place next month – and so focused on a Budget for growth. Inside are the headline announcements impacting on the fleet and motor industry.

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Industry leaders give their views on the Chancellor’s statement

John Lewis, chief executive, British Vehicle Rental and Leasing Association, said: ‘As expected the Chancellor has abandoned April’s 1p increase in fuel duty, but then surprised everyone by delaying the inflation increase until next year and reducing duty by 1p. His fair fuel stabiliser is ingenious, shifting the burden of taxation upstream when crude oil prices

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