FDs clock speed camera problems
Finance directors concerned over human and financial costs
As if pensions liabilities and new accounting standards were not enough to
worry about, a new concern has appeared on the radar of finance directors: speed
cameras.
FDs in the UK are increasingly concerned over the human and financial costs
of speed cameras, new research suggests, as over a quarter said it would be a
key issue in the next three years.
The findings are a result of research by vehicle management company,
LeasePlan.
LeasePlan MD David Brennan said that one in six company car drivers have been
nabbed by speed cameras, compared with one in ten for motorists.
‘The growth of speed cameras means more business drivers are going to get
caught, which could lead to employees losing their licences and being unable to
carry out their work. This, plus the higher insurance premiums, directly affects
the bottom line,’ said Brennan.
The survey found that the loss of business hours due to traffic congestion
was also a concern as three out of ten (30%) finance directors said this issue
would seriously affect their business over the coming years, up from 20% six
months ago.
‘Congestion is clearly on the rise and it can have a serious impact on
business operations: goods aren’t delivered on time and employees arrive late
and stressed. With public transport in a mess the car is still the transport
method of choice for many companies, but an hour spent sitting in a traffic jam
is generally an hour wasted,’ said Brennan.