June Emergency Budget - 2010

Today Conservative Chancellor, George Osborne, released the June’s Emergency Budget, we have news for motorists and what it means for you.


First of all, we all knew it was going to happen, we just didn’t know when - VAT is going up to 20% and this will be from the 4th January 2011.


The VAT change will impact fleet car drivers, both who lease their car and those that buy their lease car outright. The change in VAT means that on a average £15,000 car, the extra 2.5% works out at £315.


Insurance premium tax increases by 1%, so now this is at 6% overall, this sparks fears as it may increase the number of uninsured drivers on our roads.


No increase in fuel duties this time around, so there is a increase from the last budget in October of a penny, so this is good news for us motorists with no major increases until the next budget. They also mention that they are ‘looking into’ a fuel stabiliser.


New car manufacturers will be happy as corporation tax is cut by a percent a year.


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22-Jun-2010
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