London, UK: Business investment in the haulage industry fell by 17.8% in the second quarter.
Total business investment in the transport and storage sector fell to £2.6bn in the second quarter of 2020, down from £3.1bn in the second quarter of 2019, the latest Office for National Statistics figures show.
This was much less pronounced than the dramatic slowdown seen in the wider economy, says tax relief consultancy Catax. Overall business investment across UK industry fell 26.1% in the second quarter compared with the second quarter of 2019.
Mark Tighe, chief executive of Catax, said: “The haulage sector has actually fared much better than other industries. Both the utilities and hospitality sectors saw business investment drop by more than half as coronavirus disruption got the country in its teeth.”
