Car Finance 247 responds to the fuel duty freeze extension announced in today’s budget
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In his much anticipated first Budget, Chancellor of the Exchequer, John Healey has today announced that he will extend the 5p cut to fuel duty until July 2027.
George Farmer, Managing Director of digital vehicle finance platform, Car Finance 247, commented:
"Freezing fuel duty is a welcome move that will offer some immediate relief to motorists who continue to feel the impact of higher living and transport costs. While the savings may be modest, they will make a difference to households already balancing stretched budgets. Looking ahead, the Government should build on this support by doing more to make electric vehicles accessible and affordable for everyday drivers. A successful transition to EVs has the potential to reduce the long-term cost of motoring while supporting the UK's environmental ambitions."