Report on the Autumn Budget 2017

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. V8 NEWS report on 22nd November 2017.

Graeme Paton, Transport Correspondent, The Times issue on 23rd
November 2017

Fuel duty was frozen for the eighth year in a row yesterday as the Treasury claimed that it had saved the average motorist £850.


An expected rise in tax on petrol and diesel was cancelled as part of measures designed to ease the burden on workers.

The RAC and AA welcomed the freeze, but some industry figures insisted that Philip Hammond should have cut fuel duty. The RAC called on the chancellor to commit to no rises for the next five years.

Fuel duty adds 57.95p per litre to the price of petrol and diesel. The government repeatedly cancelled Labour’s plans to raise it year-on-year. Mr Hammond said that the freeze was the longest in 40 years, costing total of £46 billion.

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Edmund King, the AA president, said that the freeze would bring relief. Prices were at a three-year high and any rise would have “hampered small and medium businesses as well as ordinary drivers”, he said. Peter Williams, of the RAC, said that the chancellor had “listened to motorists and business owners”.

Christopher Snelling, from the Freight Transport Association, welcomed the freeze but added: “Mr Hammond has missed an opportunity to cut these costs and make the UK a more competitive place to do business.”

In the Times "At a glance" section
Air passenger duty on short-haul flights is frozen since 2012. For long haul flights, economy, business and first class will be subject to an increase of £16. Private jets passenger pay an extra £47 - Hammond said "sorry Lewis"!

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. See extracts from the HM Treasury document. More

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