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Transport focus in UK Chancellor’s Autumn Statement
UK Chancellor Philip Hammond’s Autumn Statement froze fuel duty for the seventh year in a row, until at least 2018. He also announced that £390mn would be invested in the development of ultra-low emission vehicles and driverless cars by 2020–2021, including £100mn for dedicated test tracks for self-driving cars and £150mn for green buses and taxis. Companies will also be given allowances worth 100% of the cost of installing electric charging points in car parks to encourage more use of green cars by employees. In addition, the government confirmed it is maintaining the cap on Carbon Price Support rates at £18/tCO2, uprating this with inflation in 2020–2021.
News Item details
Journal title: Petroleum Review
Subjects: Environmental protection, Banking, finance and investment, Economics, business and commerce, Fuel oil, Energy policy, Ultra Low Emission Vehicles
