Motorists adversely affected by credit crunch

Those passionate about global warming and the harming effect of CO2 emissions on the environment have long lobbied the government to increase ‘green’ taxes on motoring. However, further taxes may not be required to achieve the desired effect of reducing the amount of motorists on the road, as massive increases in the price of fuel in the wake of the credit crisis appear to have done the trick.

Figures released by Traffic Master and the RAC Foundation showed that there has been a 12 per cent decrease in the amount of traffic using motorways and trunk routes between January and June in 2008, compared to the same period in the previous year.

Additionally, the stats also showed that drivers that are still on the road are reducing their average speeds in an attempt to conserve fuel. In June 2006-07 the average speed on motorways was clocked at 63.3 mph; figures from June 2008 showed that the average speed had dropped to 62.2 mph.

It appears that the section of motorway that has seen the most dramatic change is the notoriously congested northern section of the M25 London orbital motorway, with traffic jams between junctions 21 and 31 being reduced by a quarter compared with the previous year.

The reduction of traffic levels on major roads is just another example of the misery being suffered by motorists since circumstances have conspired against them. The malaise has come about as a result of the general credit crisis putting the squeeze on everyone’s finances, followed by swingeing increases in road fund licence in the last budget and massive increases in the cost of fuel; all have significantly increased the cost of motoring.

Indeed, the evidence is there in black and white; a cursory glance at any motoring classifieds will reveal a slew of used cars being offered for sale at greatly reduced prices compared to 12 months ago, especially larger vehicles whose car tax and fuel costs have massively escalated. Although it may be bad news for those seeking to cut their outgoings with a need to cut their favourite vehicle loose, those in a favourable financial position will be poised to pick up a nearly new or used car bargain.

Despite the fact that the Chancellor recently delayed the proposed increase in fuel duty, the government recently revived plans to look at road toll charging. With fuel costs reaming high and the spectre of further green taxes being imposed the future looks bleak for motorists, certainly in the short term.

Paul McIndoe writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.