Seema Malhotra – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Seema Malhotra on 2015-11-05.

To ask Mr Chancellor of the Exchequer, with reference to paragraph 5 of his Department’s document Fixing the foundations: creating a more prosperous nation, Cm9098, published in July 2015, what analysis his Department has made of the effects of changes to vehicle excise duty and the creation of a roads fund on UK productivity.

Damian Hinds

The reform of VED announced at the Summer Budget delivers long-term revenue sustainability whilst simplifying the current system. This reform enabled the government to set up a Roads Fund, which from 2020-21 will provide the necessary funding for a high performing road network that is as efficient as possible. This is vital for efficient running of business and enabling connections to bigger markets and labour pools.