Freight: Insolvency

Department for Business and Trade written question – answered at on 13 February 2024.

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Photo of Bill Wiggin Bill Wiggin Chair, Committee of Selection, Chair, Committee of Selection, Chair, Committee of Selection

To ask the Secretary of State for Business and Trade, what estimate she has made of the number of road haulage businesses entering insolvency in 2023; and what steps he is taking to support that industry.

Photo of Kevin Hollinrake Kevin Hollinrake Parliamentary Under Secretary of State (Department for Business and Trade)

In 2023 in the UK, 494 companies with a SIC code 49410 - Freight Transport by Road - entered insolvency.

At Autumn Statement 2023, the Government announced continuing support for haulage companies, freezing HGV Vehicle Excise Duty and the HGV Levy in 2024/25. This forms part of a package of support for hauliers, with the freezing of Fuel Duty announced at Spring Budget 2023, saving over £4,300 for the most common types of HGV in 2023/24.

The Department for Education is also offering high-quality apprenticeships and Skills Bootcamps, supporting the haulage sector to develop the skilled workforces it needs.

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