Logistics UK responds to Chancellor’s pre-Budget speech
Chancellor Rachel Reeves refused to rule out tax rises as she said she will make necessary choices in the upcoming Budget.
LOGISTICS UK’s acting chief executive Kevin Green say: “Increasing the cost of doing business for logistics companies is counterproductive and will put the hand brake on growth and drive inflation.
“Whether tax increases come from fuel duty, employer National Insurance Contributions (NICs) or business rates, the result will be the same: higher prices for households and businesses.
“Profit margins in the road haulage sector are around 2% and almost 500 hauliers went bust last year. The sector simply cannot afford to absorb any more costs, so a tax on logistics will be a tax on everyone.”
