Confirmation that Fuel Tax Credits are being restored on 29 September cannot come too soon, the National Road Transport Association said.
But the long anticipated rise in the Road User Charge is not so welcome and will add to the financial and regulatory burden that is already contributing to the exit of drivers from the road transport industry.
Federal Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King, formally announced restoration of the FTC at 18.8 cents per litre earlier today.
Minister King simultaneously announced the new Road User Charge will be 27.2 cents per litre and the fuel excise 46 cents a litre.
“This increase in the road user charge is from 26.4 cents per litre and is consistent with the NTC’s recommendations earlier this year,” said NatRoad CEO Warren Clark.
“While we acknowledge that the 3% rise is less than half the inflation rate for 2021-22, it will still make life tough for truck operators.”
The previous Federal Government’s halving of fuel excise ends at midnight 28 September and NatRoad has warned the spike in diesel prices will be significant.
NatRoad has a forthcoming webinar on 21 September 2022 to explain the new arrangements to members and others.