Chancellor Rachel Reeves’ first Budget represents a significant shift in fiscal policy, addressing the UK’s considerable funding gap with £40 billion in new tax rises alongside targeted spending cuts.
The Electric Car Scheme has identified July 15 as the crossover day when a petrol driver spends more on fuel than an electric driver does for an entire year.
More than half of motorists support calls for a cut in fuel duty in next week’s budget, according to the Startline Used Car Tracker.
A record increase in fuel duty could be set to temper fleet operators’ initially positive response to news that benefit-in-kind (BIK) tax for electric vehicles (EVs) will continue to be kept low to increase uptake.
Over a third of motorists plan to abandon their cars in favour of public transport if fuel prices continue to rise above their current average of over £100 for a tank of petrol.
Auto Trader has urged car retailers not to “jump to rash conclusions about the health of the market” after car price rises eased in May with the prospect of tough times ahead for car buying consumers.
As the British people face significant increases in the cost of living, the Chancellor Rishi Sunak has delivered tax cuts to fuel and wages in today's Spring Statement to the UK Parliament.
A new pay-as-you-drive road pricing system could soon be introduced to replace traditional vehicle excise duty (VED) and tax on petrol and diesel.
The rate of “cash burn” within automotive sector businesses will come under close scrutiny during the COVID-19 coronavirus lockdown, according to GlobalData.
The cost of motoring has leapt by more than 10% in the last year according to the results of research carried out by HPI.
Motorists are likely to see higher prices at the fuel pumps in the coming weeks, due to the fall in the value of the pound.
