Robert Gordon, Chief Executive Officer, Novuna comments on the upcoming Spring Statement

“Wednesday’s Spring Statement is an opportunity for the Government to take decisive, meaningful action to help consumers and businesses avoid the worst impact of surging inflation.

The expected fuel duty cut in light of record fuel prices hitting an historic high is likely to do little to ease the eye-watering cost burden on motorists. The cut should be complemented by the Government shining a light on the benefits of electric vehicles (EVs). Wednesday presents a chance for the Government to reinforce its commitment to install public access charge points across the UK, a lack of which are continuing to inhibit EV take-up despite increasing registrations, in order for motorists to make the leap to an EV with confidence.

“With the retail sector hit particularly hard over the past two years, and inflation expected to reach over 7% this Spring, there is a risk the sector will only feel the pinch further. A targeted extension of the Business Rates Relief Scheme would provide a welcome buffer to support the sector while it remains unable to consistently hit pre-pandemic levels of growth.”

Robert Gordon, Chief Executive Officer, Novuna