Business loans provider reveals Manchester road pricing misgivings

Wed, 30 May 2007

In news that may be of interest to many business loan customers in the north-west, it has been revealed that the majority of businesses in Manchester are opposed to proposals to introduce a localised road pricing scheme.

This month, the Association of Greater Manchester Authorities set out plans to cut traffic congestion in the city by imposing a two-tier road pricing scheme.

The first tier affects car insurance customers and other road users entering the M60 ring road, while the second tier comes into force for motorists looking to drive into the city centre.

However, while the initiative may cut congestion, a number of companies have expressed concern that it could potentially dissuade people from visiting the city centre and encourage them to visit out-of-town facilities such as the Trafford Centre.

Steve Jennings, director of business banking at business loans provider Alliance & Leicester Commercial Bank, has outlined the financing implications of the changes.

"Road pricing - if introduced - would be another financial burden," he said.

"Companies will need to review their outgoings in order to absorb this cost and banking costs should be included in any review."

Retail outlets who fear their revenues may be affected by road pricing may want to consider arranging low-rate business loans in order to cover the deficit.

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