PRA Responds to the Chancellor’s Spending Review

Commenting on Chancellor Rachel Reeves MP’s delivery of the Government’s Spending Review, Gordon Balmer, Executive Director of the Petrol Retailers Association (PRA), said:

“The PRA acknowledges the Government’s multi-year Spending Review and welcomes investment in key areas. However, we remain concerned with the lack of clarity on how the Government’s announcements regarding the transition to electric vehicles (EVs) and focus on decarbonisation will challenge fuel retailers who are facing rising costs amidst economic uncertainty.

As part of the Government’s mission to achieve net zero, they have designated £1.4 billion to support the continued uptake of electric vehicles. Additionally, the Government have earmarked £400 million for the development and rollout of more charging infrastructure, building on the 80,000 public charging devices already available.

PRA reiterates that businesses are dealing with increasing business rates, energy costs and national insurance. The EV rollout and initiative to improve charging infrastructure combined with financial pressure will affect those running a forecourt and the Government has been unclear on how it can provide support. It is necessary that the Government sets out a clear plan for retailers, should the EV rollout be successful and they achieve their ZEV Mandate.

The next fiscal event in Autumn will hopefully provide further clarity than the Spring Statement and Spending Review and avoid further squeezing fuel retailers.”