Sunday, June 22, 2008
Redundancies predicted if fuel hits £2 per litre
Finance directors forsee impending job losses
More than one in three financial directors expect redundancies within their companies if fuel prices hit £2 a litre, according to a new survey.
Diesel prices have rocketed over the last month and are now almost 14 pence per litre more expensive than petrol, while crude oil prices have hit record levels.
The Lex/YouGov survey, comprising of over 200 respondents from medium and large sized firms, found the government’s emissions based taxation changes have proved unpopular with financial directors, with only 32 per cent feeling they received adequate notice to implement the necessary changes to their business vehicles.Over half of respondents said implementing changes to legislation such as the corporate manslaughter act, corporation tax/capital allowances and CO2 based vehicle taxation had placed a strain on their business.Additionally, 42 per cent of firms with company cars said they had no plans to make their fleets more environmentally friendly over the next six months, and 57 per cent did not think making their fleet greener would attract new business.
Jon Walden, Lex managing director, said: “The Lex/YouGov survey firmly illustrates the pressure that UK businesses are feeling as a result of rising fuel costs, and in particular the price of diesel.”
DATED: 22.06.08
FEED: MT
More than one in three financial directors expect redundancies within their companies if fuel prices hit £2 a litre, according to a new survey.
Diesel prices have rocketed over the last month and are now almost 14 pence per litre more expensive than petrol, while crude oil prices have hit record levels.
The Lex/YouGov survey, comprising of over 200 respondents from medium and large sized firms, found the government’s emissions based taxation changes have proved unpopular with financial directors, with only 32 per cent feeling they received adequate notice to implement the necessary changes to their business vehicles.Over half of respondents said implementing changes to legislation such as the corporate manslaughter act, corporation tax/capital allowances and CO2 based vehicle taxation had placed a strain on their business.Additionally, 42 per cent of firms with company cars said they had no plans to make their fleets more environmentally friendly over the next six months, and 57 per cent did not think making their fleet greener would attract new business.
Jon Walden, Lex managing director, said: “The Lex/YouGov survey firmly illustrates the pressure that UK businesses are feeling as a result of rising fuel costs, and in particular the price of diesel.”
DATED: 22.06.08
FEED: MT
