George Osborne,
the Chancellor of the Exchequer for the Conservative-LibDem
Coalition government, will present his Autumn Statement to the
House of Commons on Wednesday 5th December 2012.
As usual we will have a report on the statement within an hour
or so of the Chancellor sitting down in the House of Commons.
Budget 2012
- see our report in March
Our prompt report of the key points for classic car enthusiasts.
More & More
Budget statement 2011- see our report
See our report. More
Eight predictions from citywire money
More
HMRC
website
More
Posted: 121123 |
Autumn
Statement on Wednesday 5th December
The Autumn Statement 2012 will be made in the House of Commons
by the Chancellor of the Exchequer, George Osborne, on Wednesday
5th December at 12.30pm. The
Statement provides an update on the Government’s plans
for the economy based on the latest forecasts from the Office
for Budget Responsibility. These forecasts are published alongside
the Autumn Statement on 5th December. Full details of the announcements
will be available on the HM Treasury website
following the Chancellor's statement to Parliament but as usual
we will have a prompt report on the measures announced which
will be of interest for the classic motoring enthusiast..
How
will classic motoring suffer in the Autumn Statement?
What
might
we see in the Autumn Statement sometimes called the Mini-Budget"?
Fuel duty
The removal of the planned 3p a litre increase in fuel duty
deferred
from August 2012 to January 2013 is the announcement most UK
MG enthusiasts and motorists generally would like to hear in
the Autumn Statement - see our recent NEWS items.
More & More
VED rates increase by RPI
In the Budget in March 2012 VED for 2012-13 increased by
inflation (RPI). So for the pre-graduated vehicles over 1549cc
the VED rate rose rise by £5 from £215 (2011-12)
to £220 from 1st April 2012. Will we see a further
increase in the Autumn Statement?.
Changes
to transport taxes in the Budget statement in March 2012
A couple
of clauses in the Transport taxes section, on page 70 in the
Budget "red book", were interesting. More
VAT - no change
Thankfully there was no increase announced in March 2012, so
let's hope there is no rise.
Roads improvement scheme
Speculation over a new scheme to introduce private sector investment
and management skills into road maintenance and/or new road
building schemes was a news topic in March 2012. Shadow road
tolling or public sector service charge payments are the likely
source of payment from the public sector with possibly real
tolls on new roads built by private sector investors and operators
under these proposals. Awaiting clarification on this. More
Insurance tax
The standard rate of 6% (Jan 2011 - April 2012) remained at
6% for 2012-13 - see page B18 of the HMRC document. Tax
rates & allowances Annex B |