Haulage News

Duty freeze essential to help economic growth, reports RHA

Further increases in the amount of duty added to the price of diesel cannot be afforded and will strangle UK industry, the Road Haulage Association (RHA) has reported, ahead of the fuel price debate set for the House of Commons in the upcoming days.

The UK already charges more tax than any other EU country on road diesel, a key industrial fuel to businesses involved in haulage and distribution.

Bank loan applications by SMEs increasingly unsuccessful

Applications by SMEs for bank loans across Europe are becoming increasingly more likely to be rejected, according to new figures released by Eurostat, the statistical office of the European Union (EU).

The proportion of unsuccessful loan applications rose in 19 of the 20 Member States of the EU between the years 2007 and 2010. Only Sweden saw a reduction in the amount of unsuccessful applications.

Late payment rules to be brought forward

New late payment legislation due to be implemented across the EU in 2013 could be brought forward to 2012 in the UK, as the government coalition looks set to fast track the initiative.

The new regulations would set 30 days as a standard period for both public and private entities to pay invoices. This could be extended to 60 days if suppliers have agreed to give customers time to acknowledge receipt and review the goods or service.

Invoice Finance now even more popular amongst SMEs and larger companies, reports ABFA

ABFA, the Asset Based Finance Association, today announced impressive growth figures for its members as invoice finance yet again saw a big rise in popularity.

Advances from ABFA members to clients grew by 12% year-on-year, with £15.7 billion being distributed.

There have now been 5 quarters of continued growth in the amount of advances issued as more and more businesses opt for invoice finance solutions such as invoice factoring and invoice discounting.

Supermarkets petrol price war welcomed by RHA

News of some of the largest retailers in the UK announcing price cuts on petrol has been welcomed by the Road Haulage Association.

Reports suggest that the UK’s largest retailer, Tesco as well as Morrisons have already made the decision to cut pump prices by 2p a litre. ASDA is also set to follow suit as a price war becomes ignited.

These price cuts come as oil prices were said to have dropped by 12 per cent inside the last month alone.