The Traffic Commissioners for Great Britain have launched a consultation to look at whether the financial resources test for restricted operator licence holders need to be increased. All operator licence holders must demonstrate a certain level of financial resources based on the type of licence they hold and the number of vehicles they’re operating. The level of financial resources available is checked when operators first apply for a licence but is a continuing requirement and can be checked at any […]
The Office of the Traffic Commissioner has issued a reminder to vehicle operators about the new financial standing levels that will apply from next month.
From 1 January, standard O-licence holders will be required to demonstrate an increased level of financial facilities, after the drop in the value of value of the pound following the EU referendum.
The financial standing system should be completely reviewed when the UK leaves the EU, according to the FTA.