Report on the Autumn Budget 2017

Full details of the Autumn Budget 2017 measures announced are available on the HM Treasury website released following the Chancellor's statement to Parliament.

HM Treasury Autumn Budget 2017 document. More

HMRC Autumn Budget 2017 documents
. More

Budget on Wednesday 22nd November 2017
The Autumn Budget 2017 statement made in the House of Commons by the Chancellor of the Exchequer, Philip Hammond, on Wednesday 22nd November 2017 provided an
update on the Government’s 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 & Budget statement.

The Chancellor announced in the Autumn Statement 2016 that the Government will move to a single fiscal event each year so the Spring Budget 2017 was the last Budget held during springtime. The OBR will continue to make two forecasts a year. The Finance Bill will follow the Autumn Budget 2017.

Following the Chancellor's statement to Parliament we have our usual a prompt report on the few measures announced which will be of interest to the classic motoring enthusiast.


See extracts from the HM Treasury document. More

Headlines for classic car enthusiasts

Fuel Duty - the fuel duty rise expected in 2018 has been cancelled.That means no rise in fuel duty for the 8th successive year. The average motorist will have saved £850 from the fuel duty increase freeze since 2010. More

Vehicle Excise Duty rates and bands - no change to the VED rates other than the RPI increases announced in the Budget in 2016. VED rates have increased in line with inflation since 2010. First year VED rates for new dirty diesel cars will be increased since April 2018. More

VED rates for cars registered before April 2017
VED rates will increase in line with RPI from 1st April 2018 for cars, vans and motorcycles registered before April 2017 and the First-Year Rates for cars registered after April 2017

Vehicle Excise Duty classic vehicle exemption - no change to the rolling 40 year VED exemption announced at the Budget 2014.


See our previous reports on:
Budget statement in March 2017. More
Budget statement in November 2016. More
Budget statement in March 2016. More


Preview of the Autumn Budget 2017
See our preview. More
& More


 
Posted: 171122 @ 1402 V8 Register - MG Car Club - the leading group for MG V8 enthusiasts at www.v8register.net