Lorry taxes frozen to support ‘vital journeys’
Vehicle excise duty (VED) and the heavy goods vehicle (HGV) levy will remain at existing levels during the year from April 1 2024.
Two taxes on lorries will be frozen to support “vital journeys”, the Treasury has announced as part of Chancellor Jeremy Hunt’s autumn statement.
Vehicle excise duty (VED) and the heavy goods vehicle (HGV) levy will remain at existing levels during the year from April 1 2024.
The policy is expected to cost the Treasury £105 million over five years.
In a post on social media site X, formerly known as Twitter, the Treasury wrote: “Every day crucial journeys are made by heavy goods vehicles.
“From medical supplies delivered to hospitals to food delivered to stores, HGVs matter to our economy.
“That’s why we’re freezing the HGV levy and road tax for this type of vehicle – protecting vital journeys.”
VED, often referred to as road tax, is paid to the Government by vehicle owners each year.
It is based on the type and age of the vehicle.
VED for cars, vans and motorcycles will rise from April 1 2024 in line with the Retail Prices Index (RPI) measure of inflation.
RPI was 6.1% last month.
No changes to fuel duty were mentioned in the Treasury’s autumn statement documents.
In March, Mr Hunt announced that the 5p per litre cut would be retained for 12 months, and the level would not increase in line with inflation.
That meant duty remains 52.95p per litre for petrol and diesel.
