details of the Budget announcements are available on the HM Treasury website
released following the Chancellor's statement to Parliament.
Statement on Wednesday 23rd November|
The Autumn Statement 2016
made in the House of Commons by the Chancellor of the Exchequer, Philip Hammond,
on Wednesday 23rd November provided an
update on the Governments plans for the economy based on the latest forecasts
from the Office for Budget Responsibility. These forecasts are published alongside
the Budget Statement. Full details of those announcements are available on the
HM Treasury website
Following the Chancellor's statement to Parliament we have as usual
a prompt report on the few measures announced which will be of interest to the
classic motoring enthusiast.
extracts from the HM Treasury document. More
for classic car motoring |
Duty - the fuel duty rise expected in 2017 has been cancelled.That
means no rise in fuel duty for the 7th successive year. The average motorist will
save £130 from this fuel duty increase freeze.
tax - the tax rate will rise from the current 10% to 12% from June 2017. In
the Budget 2016 in March earlier this year the rate was increased from 9.5% to
10% so a combined increase of 2.5% in 2016!
Excise Duty rates and bands - no change to the RPI increases announced in
the Budget earlier this year.
Vehicle Excise Duty classic vehicle exemption
- no change to the rolling 40 year VED exemption announced at the Budget 2014.
on whiplash insurance claims that push up insurance premiums. More