Budget 2016: How it effects motorists
The new Budget does not change much for UK motorists
British motorists will find themselves not overtly effected by the new Budget released last week by Chancellor George Osbourne. However, for those of you who like to keep in the motoring-know, we have compiled a list that includes all the changes which could effect your on-the-road life:
- Insurance premium tax will increase by 0.5%
- Therefore, 10% of your car insurance premium will be made up of tax
- Toll charges on the Severn crossing to be halved by 2018
- £75m to be spent on improving northern sections of the A66 and A69
- £161m investment to increase M62 to four lanes
- Pothole Action Fund to receive £50m
- £130m to be spent on repairing flood damaged roads and bridges
- A new tunnel road will be constructed under the Pennines between Sheffield and Manchester
- £15m investment on autonomous road between London and Dover
- Autonomous vehicles given the go-ahead for road trials in 2017
- 100% First Year Allowance (FYA) to continue for businesses buying low-emission vehicles
Some things are to remain the same, including car tax and fuel duty, which has been frozen for the sixth year running. George Osbourne said freezing fuel duty for another year was “the tax boost that keeps Britain on the move”. But as the RAC was quick to point out, the Chancellor “already takes 73% of pump price in tax”.
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