NFDA HIGHLIGHTS ECONOMIC AND FINANCIAL ISSUES IN 2016 BUDGET SUBMISSION

Published 04/02/2016 00:00:00 in Press Releases

The National Franchised Dealers Association (NFDA) has raised their issues with the HM Treasury concerning franchised dealers in their 2016 Budget submission.

These include:

  • Dealer members have raised concerns into the cost of compliance and regulation with the FCA, and the limited access to help and guidance materials available.
  • The NFDA is concerned that the new pension and living wage will incur costs to businesses.
  • The NFDA urges the Government to revisit the planned relaxation of the 3% diesel surcharge for Benefit in Kind (BIK) purposes, and in addition has asked the Government to ensure that the company car tax rates are delivered four or more years in advance. This follows concerns from NFDA members that the rates of company car tax post 2019 have still not been set.
  • The NFDA has raised concerns that if the proposed MOT testing period is extended to four years for new cars and motorbikes, it will result in a rise in road accidents and fatalities.

Sue Robinson, NFDA Director comments, “In an industry which accounts for 4% of the UK’s GDP, and employs approximately 770,000 people - with 506,000 directly employed in the retail sector, it is vital that the treasury acknowledges our concerns and develops policies which will sustain growth and aid business development and investment.

“The NFDA looks forward to the Budget Statement next month and hopes that the issues highlighted will be acknowledged.”

 

ENDS

NOTES TO EDITORS: Please click here to download a copy of the NFDA 2016 Budget Submission

Rupal Rawal, RMI Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

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