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You are here: Home1 / Budget

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Support for used EV market should feature in Spring Budget – VRA

Legislation, UK News

The Vehicle Remarketing Association believes there is an imbalance in government incentives between new and used electric vehicles. It says more needs to be done to ensure a healthy market for used models. The association is calling for this support to feature in the Spring Budget. VRA chair Philip Nothard said: “The government should be applauded for doing much in recent years to encourage uptake of new EVs, especially through low personal company car taxation. This has been notably successful and electric power now makes up a significant proportion of new car sales. However, the used car sector has so far been left to look after itself when it comes to EVs and, as shown with dramatic price falls in recent weeks and months, demand is extremely variable even for the relatively low numbers of electric cars now making their way onto the used market.” 

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Related news:

  1. Institute of the Motor Industry presents motorist-supporting Budget ‘wishlist’
  2. Autumn Statement – NFDA “concerned” at possible electrification setback
  3. Challenges of remarketing electric vehicles and hybrids the focus of first VRA meeting of 2019
  4. Speaker programme announced for VRA’s “2020 Vision” seminar as event reaches capacity
22nd February 2023/by Peter Gardner

Autumn Statement – NFDA “concerned” at possible electrification setback

Legislation, UK News

The Autumn Budget offers a balance of positive infrastructure measures and concerns over the support of car parc electrification, according to Sue Robinson, chief executive of the National Franchised Dealers Association (NFDA). A variety of measures affecting the British automotive industry were set out in the Thursday 17 November Autumn Statement by the Chancellor, Jeremy Hunt. “As a whole, the Autumn budget announced today promises growth and investment that the UK so desperately needs,” Robinson said. “Whilst there are positive notions in areas such as business rates and infrastructure investment, NFDA is concerned that the removal of tax exemption for EV owners could set back the objective of electrification and increasing the number of electric vehicles sold in the UK, in a bid to reach the ever-challenging 2030 targets.”

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Related news:

  1. RMI applauds ’positive’ Autumn Statement
  2. New car market up as plate change September marks 1 million EV milestone
  3. Price, access to charging, range the barriers to electric vehicle purchases – survey
  4. No shortage of advice for new PM
18th November 2022/by Andrew

NFDA comments on ‘mini budget’

UK News

The National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle dealers in the UK, has reacted to the Autumn Budget and Spending Review 2022, details of which were outlined in Parliament earlier today (23/9/22). Sue Robinson, NFDA chief executive, commented on the announcements made today by the Chancellor regarding National Insurance contributions, Corporation Tax, the Energy Bill Relief Scheme, business rates, and infrastructure spending.

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Related news:

  1. Chancellor confirms infrastructure investment, fuel duty freeze
  2. PRA urges fuel duty cut
  3. Roads spending, Brexit caution, business rate relief in spring Budget
  4. Chancellor delivers pothole budget
23rd September 2022/by Peter Gardner

Budget 2021: Corporation tax up, but business rates frozen – what it means for tyre businesses

Career Tracks, UK News
Tumisu; Pixabay

The Covid-19 pandemic may have caused the biggest financial crisis of a generation as well as record spending and borrowing levels, but economic highlights aren’t as bad as was expected and UK Chancellor of the Exchequer Rishi Sunak isn’t raising taxes as fast as feared. Here, Tyres & Accessories takes a look at the main points pertaining to the tyre business and specifically: the furlough extension, the corporation tax increase, continued business rates holiday, and the introduction of freeports.

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Related news:

  1. Apprenticeships ‘too important just to be an election promise’
  2. IMI welcomes Labour leader Ed Miliband’s apprentice pledge
  3. Poor provision of careers advice hampers economic growth – IMI
  4. MG Motor invests in internship programme
3rd March 2021/by Chris

NFDA comments on Government’s ‘plan for jobs’

UK News
The Right Honorable Rishi Sunak MPChris McAndrew

The Chancellor has announced a new £2 billion Kickstart Scheme will be launched to help employers create jobs for young people at risk of long-term unemployment. Funding available for each six-month job placement will cover 100 per cent of the National Minimum Wage for 25 hours a week – and employers will be able to top this wage up.

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Related news:

  1. Roads spending, Brexit caution, business rate relief in spring Budget
  2. October car sales push yearly figure past two million
  3. UK new car registrations – the decline continues
  4. August car sales up 23 per cent – electric cars account for one in twelve sales
10th July 2020/by Andrew

UK government investing billions in road and transport infrastructure

UK News
Aerial view of winding roadDeva Darshan; Pexels

Following a budget that committed to the largest portfolio of inward investment in 30 years, on 14 May 2020 the UK Transport Secretary promised £1.7 billion for local road repairs and fast-tracked construction works worth £175 million while fewer passengers are using transport system. Hundreds-of-millions-of-pounds worth of upgrades have already been made to the nation’s road and rail networks during the lockdown period with more planned over the coming weeks and months. For the tyre industry, the new could also support flagging demand for OTR and off-road tyres used in such construction projects.

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Related news:

  1. Road investment “will support nearly 10,000 jobs”
  2. NTDA to challenge MOT changes on ‘road safety’ grounds
  3. RMI also voices opposition to MOT extension
  4. …But Brake calls for more 20mph zones
15th May 2020/by Chris

Government announces small business support package

UK News
The Right Honorable Rishi Sunak MPChris McAndrew

Chancellor of the exchequer Rishi Sunak has announced a series of support measures that features support for businesses. The measures include:

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    Related news:

    1. NTDA: Tyre retailers, garages are “essential” during lockdown
    2. SD International: Zeta, Pace and Toledo brands still available
    3. ‘More than 60%’ of garages closed in pandemic lockdown, survey shows
    4. Garage reopening best-practice issued by GEA, SMMT
    18th March 2020/by Chris

    Positive reactions – UK automotive industry upbeat about 2020 budget

    Legislation, UK News

    As we have seen, when the Chancellor of the Exchequer, Rishi Sunak, presented his first Budget to Parliament it contained a number of potential automotive demand drivers. But how has the industry responded to the proposals? Here are some of the reactions of the various sectors of the automotive industry.

    Read more

    Related news:

    1. Roads spending, Brexit caution, business rate relief in spring Budget
    2. PRA welcomes Budget’s fuel duty freeze, ‘disappointed’ no cut
    3. ‘Filling stations should be included in rates concessions’ – PRA
    4. Chancellor “is planning tax hike for diesel” says PRA
    12th March 2020/by Chris

    2020 budget brings biggest inward investment in 30 years

    UK News
    The Right Honorable Rishi Sunak MPChris McAndrew

    In what has, for obvious reasons, been dubbed a Covid-19 budget, new UK Chancellor the Exchequer (the Right Honorable Rishi Sunak MP) promised the highest levels of inward investment for 30 years including a number of initiatives that will help small and medium-sized business such as tyre retailers and garages.

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    Related news:

    1. Royal Mail trialling Enso Tyres on electric vans
    2. Conti’s Bandvulc purchase results in UK market remoulding
    3. ToughTech’s expansion supported by £100,000 NPIF investment
    4. Green restart: Retreaded tyres as a decarbonisation aide
    12th March 2020/by Chris

    PRA urges Chancellor to cut road fuel tax by 2ppl

    Legislation, UK News

    The PRA has written to Sajid Javid MP, the Chancellor of the Exchequer, a case for cutting road fuel duty by 2 pence per litre in the first Budget of the new Government.

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    Related news:

    1. PRA welcomes Budget’s fuel duty freeze, ‘disappointed’ no cut
    2. PRA urges fuel duty cut
    3. Chancellor “is planning tax hike for diesel” says PRA
    4. PRA urges chancellor to continue fuel duty freeze in Budget
    12th February 2020/by Andrew

    PRA urges Treasury to clarify new small business rates relief scheme

    UK News

    The Petrol Retailers’ Association (PRA) is seeking urgent confirmation from the Treasury that petrol filling stations (PFS) will be eligible for small business rates relief announced in the Budget. This request comes after some confusion in the 2013 Budget, when the Treasury did not specifically include PFS as one of the eligible business categories. The PRA had to intervene to obtain formal confirmation that, subject to State Aid de minimis limits and the rates threshold, the discount scheme was applicable.

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    Related news:

    1. PRA welcomes Budget’s fuel duty freeze, ‘disappointed’ no cut
    2. PRA urges chancellor to continue fuel duty freeze in Budget
    3. PRA urges fuel duty cut
    4. PRA urges chancellor to cut fuel duty in Autumn Budget
    30th October 2018/by Andrew

    Chancellor delivers pothole budget

    Premium, UK News

    While many have been talking about chancellor of the exchequer the right honourable Phillip Hammond MP’s decision to increase the personal allowance threshold from £11,850 to £12,500 in April 2019, for those of us connected to the automotive and transport industries this year speech is probably best described as a pothole budget. True Hammond has raised personal allowance threshold and has raised the point at which people start paying higher rate tax (40 per cent) to £50,000, but the automotive industry was hoping for much more clarity and even support the wake of a Brexit-fuelled, uncertainty ridden market context.

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    Related news:

    1. Tax discs to go: Chancellor bins 92-year old system
    2. Chancellor confirms infrastructure investment, fuel duty freeze
    3. Infrastructure and automotive industry investment central to automotive statement
    4. Roads spending, Brexit caution, business rate relief in spring Budget
    30th October 2018/by Chris

    KPMG: Brexit uncertainty behind UK car production dips

    UK News

    Following the news that UK car production fell almost 17 per cent in September, Justin Benson, head of Automotive at KPMG UK suggested the latest SMMT car manufacturing figures could motivate government to consider automotive industry incentives:

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    Related news:

    1. NFDA, DWF, KPMG, Global Data and SMMT reactions to 2019 car registration figures
    2. IHS: 2015 car registrations show gains across brands and segments
    3. UK car manufacturing up a quarter in May
    4. ‘Modest’ overall decline in November new car sales
    25th October 2018/by Chris

    Liability of rogue tyre recovery operators increases

    Legislation, UK News

    Measures announced in the Autumn Budget this week to increase the liability of illegal waste site operators have been welcomed by the Tyre Recovery Association (TRA). As of 1 April 2018, sites operating without the relevant environmental disposal permit, and those knowingly facilitating illegal waste disposal, will be liable to pay Landfill Tax and face fines amounting to an additional 100 per cent of the tax’s value. Operators of illegal sites will remain liable to criminal prosecution.

    Read more

    Related news:

    1. Could Covid impact lead to widespread ‘dead-end’ stockpiling of waste tyres?
    2. ‘No discussion at Federation level’ of UK EPR scheme for used tyres: TRA
    3. Beware cheap waste tyre collection offers – TRA urges retailers
    4. TRA ‘alarmed’ at proposed Europe-wide ban on rubber infill
    24th November 2017/by Tyrepress Editors

    Chancellor freezes fuel duty in 2018 budget speech

    UK News

    The headline news from chancellor Phillip Hammond’s latest budget is that Stamp duty is to be abolished immediately for first-time buyers purchasing properties worth up to £300,000. Those first-time buyers purchasing properties over this amount won’t pay stamp duty on the first £300,000. However, there was less to say with regards to the automotive industry and business in general.

    Nevertheless, the fuel duty rise for petrol and diesel cars scheduled for April 2018 has been scrapped. At the same time car tax for new diesel cars not meeting latest standards is to rise by one band next year. The good news for businesses reliant on deliveries is that this particular tax hike will not apply to van owners.

    Read more

    Related news:

    1. Chancellor confirms infrastructure investment, fuel duty freeze
    2. NFDA calls for government support on combustion ban
    3. Increased Fuel Duty, Road Spending and Business Support in Pre-Election Budget
    4. Call to bring forward UK total ban on petrol and diesel cars
    22nd November 2017/by Tyrepress Editors
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