Budget Round-Up

So, while the world goes into a meltdown (understandably), we thought we’d take a look at the effects last weeks’ budget has on you, the humble car driver. 

It was, to use a football analogy, a game of two halves. 

The good:

Fuel duty frozen. No upswing in tax on fuel prices for the coming year. It’s been frozen since 2011 and will remain so. Good job really, given that it looks as though we are currently freefalling towards a recession.

£2.5 million earmarked for repairing potholes. If you, like me, have been victim to yet another puncture, thanks to the state of the roads in the UK, this will be good news. There are an estimated 50,000 potholes on UK roads and hopefully, this will go some way to bringing this number down.

£27 billion pledged to improve roads, particularly around ports and airports, with £1.7 of that going towards a controversial plan to dig a tunnel under Stonehenge to improve traffic in the south of the country, travelling up and down the A303. 

More EV rapid chargers on roads. For those drivers of electric vehicles, there is a nationwide plan to make more charge points available up and down the country. 

The bad:

Grants to purchase electric vehicles have been slashed by £500 as they become more commonplace on UK roads. For electric vehicles costing over £50k, such as the Tesla, the grant is cut completely. 

A proposal has been suggested (but not yet made policy) to change how cars are taxed, based on CO2 emissions. This could see some cars having to pay up to £2000 each year in road tax. Better put any thoughts of that Porsche aside for the time being at least. We’ll keep an eye on this one.

So, those are the headlines. What did you think of the budget? Good or bad? Either way, you can rest assured we can help keep those costs low thanks to the cheapest car insurance deals when you’re at your renewal time. 

In these uncertain times, it’s little things like that which can make all the difference.

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