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The Years Autumn Statement Highlights – What it means for YOU!

In one of the most important political events of each year, the plans for national spending and the UK finances were announced and here at CA we felt that drivers should know exactly what will be affecting them in the coming months, so we've outlined the main points that may affect you as a driver.

Updated
Resurfacing 80% of the strategic road network - An estimated £2.6 billion to tackle congestion and ensure the UK’s transport networks are fit for the future.

Roads and local transport – The NPIF will provide an additional £1.1 billion by 2020‑21 in new funding to relieve congestion and deliver much-needed upgrades on local roads and public transport networks.

On strategic roads, an extra £220 million will be invested to tackle key pinch-points.

The government will recommit to the National Roads Fund announced at Summer Budget 2015.

Future transport – The NPIF will invest a further £390 million by 2020-21 to support ultra-low emission vehicles (ULEVs), renewable fuels, and connected and autonomous vehicles (CAVs).

This includes:

  • £80 million for ULEV charging infrastructure.
  • £150 million in support for low emission buses and taxis.
  • £20 million for the development of alternative aviation and heavy goods vehicle fuels.
  • £100 million for new UK CAV testing infrastructure.

In addition to the tax incentives for ULEVs in company tax and salary schemes set out in the tax chapter, from today to the end of March 2019 the government will also offer 100% first-year allowances to companies investing in charge-points for electric vehicles.

The Vehicle Excise Duty (VED) will change for cars registered from the 1st of April 2017 onwards. First Year Rates of VED will vary according to the carbon dioxide (CO2) emissions of the vehicle.

A flat Standard Rate of £140 will apply in all subsequent years, except for zero emission cars which will remain £0. Cars with a list price over £40,000 will incur a supplement of £310 on their standard rate for the first 5 years in which a standard rate is paid.All cars registered before the 1st of April 2017 will remain in the current VED system, which will not change.

Relates to last autumns budget report (100% First Year Tax Allowance - The budget has announced support for business owners with ultra-low emission vehicles, extending the 100% first year allowance by three years, up to April 2021).

Flood defense and resilience – The government will invest £170 million in flood defense and resilience measures - £100 million to improve the resilience of roads to flooding.

 

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