Budget 2016 – reading between the lines

Saturday, June 4th, 2016 - autos, cars, motoring, news

Source : Budget 2016 – reading between the lines

George Osborne latest Chancellor’s budget is usually not bad news for motorists along with also begin long-term planning for the future of crowded cities

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statement budget yesterday is usually 141 pages long, so in which takes some time to go through the fine details along with also salvage what was theirs directly to motorists. along with also what the Treasury Department may be quiet preparations for inside next decade.

bullish trend is usually most obvious is usually in which fuel duty has been frozen again, although the insurance tax paid by 0.5% various other nice, round 10%.

Perhaps welcome subject for many car enthusiasts in which the decision to make the exemption fide classic cars in a “rolling” reigned for 40 years. Counsel says in which coming from April 1, 2017, any car in which turns 40 years before January 1 inside year in which becomes exempt coming from VED tax future alternative methods

along with also when the completely new cars become more fuel-efficient – at least according to the accounts of session composite EU controversial – the Ministry of busy Treasury adjust the tax breaks

for example, if your business buys a car in order to be able to write off 100% of their cost inside first 12 months, the vehicle – coming from April 2018 – along with also in which is usually assessed below 50g / km of CO2 inside EC cycle, down coming from This particular year’s 110G / km

This particular example may apply to a very tiny number of car purchases, however. He gives the direction of travel of the vehicle tax inside future. along with also will be paid tax cuts CO2 levels down significantly to stay ahead of increasing fuel efficiency of modern cars.

however, perhaps most surprisingly, the budget in which the resulting CO2 will continue to be used as the basis for taxing the vehicle coming from 2020 to 2021 says. Given the controversy over pollution diesel along with also the role of CO2 inside leadership of the “dash for diesel,” along with also This particular sudden decision.

Then again, four or a few years coming from right now, either diesel engines future will be taken genuinely clean inside use of gasoline inside real world or “mild hybrids” like the B along with also C- choice engines sector.

The announcement was raising the vehicle tax the company on the rest of the decade last year, the details, however in which is usually interesting to see the cash over along with also expects the Treasury to pocket inside next a few fiscal years

freeze fuel tax coming from April 2016 – which means not raised in line with inflation – will “cost” to the Treasury about £ 450M per year until 2020-2021. However, raising the insurance premium tax rate of 0.5% might raise an extra £ 205m or so each year over the next a few years.

is usually also set to maintain the extension 3% of the company along with also diesel car tax to bring in outside for £ 270M per year over the next a few years.

however This particular reform vid for completely new cars coming from 2017, which seems like a real cash generator. 2016-2017 fiscal year along with also should add £ 300M, 2017-2018 £ 155M, 2018-2019 £ 640M, 2019-2020 £ 850M along with also coming from 2020 to 2021 along with also a huge £ 1.3bn.

while the latter figure will be devoted entirely to the budget for roads, in which makes you wonder how the Treasury will extract much more in taxes / VED road drivers.

one interesting, if potentially frustrating development is usually in which the government is usually creating money available to investigate possible through a tunnel projects.

along with also highway network, along with also the center of London, along with also getting closer than ever to lock up, simply steal the shoulder along with also said variable speed limits will not be enough to accommodate commercial traffic inside future.

One of the possibilities is usually a long-term “Northern Force” tunnel under the Pennines, the greater Manchester along with also West Yorkshire along with also linking. There are also studies to “fly-unders” View vehicles under the city centers. There is usually talk of even dangerous “wooden planks on the” highways inside cities in which are set in a deep cut along with also create a completely new urban space.

all these things are in fact in European cities. Stockholm (Sweden in a clean along with also green) is usually cut with the upper tunnels along with also bridges, however the record inside United Kingdom in pulling off a serious infrastructure projects is usually very weak indeed. Just planning stage along with also protests can take ten years or more

Perhaps the best we can wish for the future – when the roads become only the tax – is usually the largest fund for road repair along with also fill the hole.

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