Logistics organisations are disappointed with the latest Budget. 

The Freight Transport Association (FTA) and Road Haulage Association (RHA) both welcomed the chancellor's plans to freeze fuel duty, but claim he wasted an opportunity by not cutting the levy instead. The two groups had joined forces with other industry leaders to deliver a petition calling for a three pence reduction to the Treasury earlier in the year.

In a statement, the RHA stated the announcement came as no surprise, particularly after George Osborne intimated the duty would remain frozen for the duration of parliament. It argued that by not cutting the tax, he appeared to have forgotten his earlier pledge to build a Budget that would create a resilient economy. 

Meanwhile, James Hookham, FTA's managing director of policy and communications, commented: "The chancellor missed the opportunity to stimulate the economy further by reducing fuel duty and putting around £690 million into the pockets of British businesses and families."

He added that the levy currently costs commercial vehicle companies around £116 million each year. A cut of three pence per litre, he claimed, would save the industry £350 million every 12 months.