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Louis Rix, director of car loan specialists’ Car Finance 247, today issued a statement in the wake of last week’s Budget, which he says has hit all drivers – both privately and in business use - “drastically” and “will force drivers off the road”.

The main effects for motorists as a result of the Budget are:

• an increase in fuel costs from August, with petrol set to hit £1.45 a litre and diesel £1.50 a litre;
• vehicle excise duty (ie car tax) to rise (though it will be frozen for road hauliers);
• the failure to extend the company car tax exemption scheme past 2015 for electric cars.

Says Mr. Rix: “The announcements of these changes are a real blow both to private individuals and businesses that have fleets. Coupled with recent announcements of road maintenance budgets potentially being cut - leaving Read full release