TC consultation on financial standing inconclusive

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The Office of the Traffic Commissioner recently published the results of a public consultation into financial standing requirements for restricted licences.

Currently set at £3,100 for the first vehicle and £1,700 for each additional vehicle, the levels have not been amended since 2004.

The consultation, which sought views on whether the level should be amended – and how the level should be determined in future – ran from 11 June to 31 August.

Overall, respondents suggested standardising the levels to match those required by standard licence holders.

However, only 10 responses were received, making the results of the consultation inconclusive.

“The consultation has not provided the evidence anticipated, particularly from restricted licence holders and about the potential impact(s) on them,” the summary reads.

“The traffic commissioners have concluded that it would not be appropriate to proceed to a final decision but that they need to undertake further engagement with stakeholders in the restricted licence sector, as well as seeking the views of the Department for Transport.”