5 ÓCentre for Economics and Business Research · The HGV sector is in a fragile situation. The average age of drivers is 55 with 13% over 60 and only 2% below 25. Profit margins are estimated at 1% only. The number of owner operators has been falling away. It is conceivable that a rise in duty could be the straw that breaks the camel’s back of this essential service. The annual cost of a 23% rise in fuel duty to an HGV user is £3,193 to £6,704. · Cebr research has shown that the policy of freezing fuel duty, in place since 2011, has been highly successful, reducing the CPI by 6.7% compared with where it would have been by 2018 and boosting household expenditure by £24 billion. With a policy that has proved successful, it would be bizarre to change it.
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