Tax break on red diesel vital in wake of Russian sanctions
SME builders are lobbying the government to hold off scrapping the tax rebate on red diesel due to the war in Ukraine. Lack of electrically powered machinery, biofuel and a shift in prices due to sanctions against Russia will mean huge cost increases when the rebate is removed on 1st April. Contractors have said they may have to increase their hourly rates for activities such as excavation by up to £5 per hour. The 47 pence per litre rebate for [...]