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The Traffic Commissioners for Great Britain are considering whether to amend the financial levels which restricted operators must show in order to gain and continue to hold an operator’s licence.
Financial security is a key test for the operator licensing regime. It provides traffic commissioners with assurances that operators will keep commercial vehicles well maintained and run them safely.
A consistent approach to the financial levels helps to promote fair competition within the industry.
The following options are under consideration for the restricted financial levels:
- remain the same
- increase in line with the Consumer Price Index since 2004
- increase in line with the Consumer Price Index since 2013
- increase in line with the percentage increases for standard licences since 2014
- increase in line with the percentage increases identified by the Road Haulage Association since 2011
- standardise with the levels set for the standard licence holders