How does the Budget 2006 affect V8 enthusiasts?

Fuel duty increases deferred to September 2006
In the 2005 Pre-Budget Report, the Government announced a continuation of the freeze on fuel duty rates in response to continuing oil market volatility. An inflation based increase in fuel duty was announced in the Budget 2006 but because of continuing oil market volatility, the changes in rates will be deferred until 1st September 2006 - just in time for the Goodwood Revival meeting!
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Vehicle Excise Duty on V8s rises by £5
Whilst there are reforms on VED for new cars, with the introduction of banding based on carbon dioxide emissions per kilometre rising to £215 pa for new large diesel powered 4x4s, it seems that for vehicles over 1,549cc and registered before March 2001 there will be only a £5 increase. So on that basis the new VED rate for MGBGTV8s and RV8s is £175pa. Probably not as bad as we might have feared.
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No change to the VED free concession for classic cars
The rolling feature of the VED concession for classic cars that was discontinued by Gordon Brown back in 1997 was not revisited in his Budget speech today. Many chrome bumpered MGBGTV8 enthusiasts missed the concession by less than 12 months!

The detail of these changes is found in the Budget 2006 Press Notices dated 22nd March 2006 issue by HM Treasury. You can download a copy in PDF format - note the file is 0.510MB.
Budget 2006 Press Notices

Extract from the Budget 2006 speech in the House of Commons on Wednesday 22nd March 2006 by the Chancellor of the Exchequer, Gordon Brown
"While half of carbon emissions come from buildings, a quarter come from vehicles. So today I want to do more to encourage cleaner fuels and cars. I propose to radically reform vehicle excise duty. I am introducing, to take effect from tomorrow, a zero rate for a small number of cars with the very lowest carbon emissions which will pay no duty at all; and instead of £75 for cars with low emissions, significantly lower rates of £40.

Duty rate from today will be zero, £40, and then £120, £125, £150, £190 up to a new band of £210 for the small number of new cars that are the most polluting 1 per cent of all cars - this will help pay for 5 million more fuel efficient cars to have their duty cut.

As a result of our decisions, and at an eventual cost of £10 million a year to the Exchequer, the duty paid on 50 per cent of cars will be frozen or reduced from tomorrow. Instead of just 300,000 motorists paying £100 per year or less, 3 million will now pay £100 or less".

Later in this section of his speech he added "It is our policy that each year fuel duties should rise at least in line with inflation, as it is our policy that each year fuel duties should rise at least in line with inflation". A subsequent clarification announced the increased duties would be deferred to 1st September 2006 because of continuing oil market volatility.

Webpage posted: 22.3.06