It is that time of the year again when the level of finance which is required for operating a standard goods vehicle operator’s licence is announced.

With effect from 1 January 19 the amount which an operator will be required to demonstrate will be £8000 for the first vehicle and £4450 for each subsequent vehicle. The change is reflective of changes in the exchange rate between the pound and the euro. The Traffic Commissioners have announced that there will be no change at the current time to the levels required by restricted licence operators.

The requirement for a standard operator to be able to satisfy the appropriate level of financial standing is an ongoing requirement and so the new year is a good time for operators to review whether or not they still meet the requirement and take appropriate action.