Labour's budget and the road ahead for motor finance

Dec 3, 2024 · Balancing act: Labour’s 2024 budget and the road ahead for UK motor finance. Freeze on fuel duty brings relief, but questions linger on EV strategy and affordability in car …

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What Has The Labour Government Promised Drivers? - Parkers

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Aug 5, 2024 · The cost of car insurance has soared by 40% in just two years. According to Mustard, the price of an average yearly policy in 2024 costs £1,361 compared to £919 in …

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'No Higher Taxes At The Pump This Year,' Says Chancellor In 2024 …

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Oct 30, 2024 · For the 2025/2026 financial year, first-year VED will double for cars that emit more than 171g/km from £1095 to £2190. That could hit buyers of fairly prosaic large family cars …

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Election 2024 Exclusive: Labour And Conservatives Map Out Their …

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Jun 27, 2024 · We’ve frozen fuel duty at every budget since 2010, saving families more than £1,000, and we are committing to stop pay-per-mile road pricing, which is seen by many as …

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Is Labour Right To Claim There’s A £22 Billion ‘black Hole’ In The ...

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Oct 24, 2024 · The OBR review has been cited by both Labour and the Conservatives in debate over the £22 billion ‘black hole’ claim.Ms Reeves quoted it at the start of her Budget speech, …

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FAQs about Labour's budget and the road ahead for motor finance Coupon?

How did the first Labour budget affect motorists?

Whilst the Labour Government's first Budget saw a large number of tax rises, there were many positive and negative surprises for motorists across the UK. The first Labour Budget in 14 years offered mixed blessings for motorists, with a number of unexpected changes that will affect the cost of running a car. ...

What did labour do in the first budget?

In Labour's first Budget in almost 15 years, the Chancellor unveiled a range of measures from hiking National Insurance rates paid by employers to a freeze on fuel duty. To help drive investment in zero emission vehicles, the Government has pledged to strengthen incentives to purchase electric cars. ...

How will the 2024 Autumn Budget affect motorists?

The 2024 autumn Budget has been announced by Labour Chancellor Rachel Reeves. Here’s how it could affect Britain’s motorists. The Chancellor has announced the freeze of fuel duty, with the existing 5p discount staying in place for 2025 and 2026, keeping fuel duty at 52.95p per litre for at least another two years. ...

What's in labour's first EV budget for 14 years?

These are the EV-related highlights out of the first Labour party budget for 14 years. In the budget, Reeves reiterated Labour’s position to support uptake of electric vehicles. This comes months after the party confirmed that the ban on the sale of new petrol and diesel cars would be brought forward to 2030, from a previous deadline of 2035. ...

What incentives were included in Labour's budget?

Labour's Budget also featured two incentives to encourage more motorists to make the switch away from petrol and diesel cars to electric alternatives, with Rachel Reeves announcing an extension to the current freeze on the Benefit-in-Kind rate for company car drivers. ...

Will a motoring tax upswing contradict Labour's pledge to mend roads?

Prior to the financial rundown, the magazine has penned a letter to Chancellor Rachel Reeves, cautioning that any upswing in motoring tax would contradict Labour’s commitment to not increase working people's tax load while still fulfilling their vow to mend the nation's roadways. ...