Preview of the Autumn Statement 2016


Budget statement in March 2016. More

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Autumn Statement on Wednesday 23rd November 2016
Chancellor Philip Hammond is due to present his first Autumn Statement to the House of Commons on Wednesday 23rd November 2016. Although the Autumn Statement is sometimes referred to as Budget-Lite, it's likely his statement will focus on measures that would boost Britain's roads and railways together with measures to help build more houses. Possibly there may be changes to stamp duty.

What could we see of interest to classic car enthusiasts? Well measures to crack down on whiplash claims and other frauds are anticipated. Those claims have been a large financial burden on the motor insurance industry resulting in increased premiums. Press reports suggest motor insurance premiums could fall by £50 a year from the effect of those new measures which would more than offset the extra costs from any rise in insurance premium tax . The welcome fuel duty freeze seen for over four years is due to end next April and increases are likely next week which will result in higher prices at the pumps. However a recent report in the Times mentioned "more than 50 Tory MPs — including six members of Theresa May’s government — are demanding a cut in fuel duty in the autumn statement" so there is hope that may stop or limit any fuel duty increase.

As usual we will have a prompt report on the statement and the measures announced of interest to classic motoring enthusiasts posted here within an hour or so of the Chancellor sitting down in the House of Commons.

See press views on the forthcoming Autumn Statement. Daily Telegraph & Financial Times

Follow it live on BBC2 and on BBC Radio 4.
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