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March 2016 Budget - What can motorists expect?

The time is upon us once again where a grinning George Osborne will walk out of the famous Downing street doors with a bright red briefcase. We have cut out the unnecessary information for you and put together what Motorists can expect in 2016. Last year, Osborne raised Insurance Premium Tax from 6% to 9.5% adding millions to insurance premiums, but also £12 million to the AA's cost for providing roadside assistance. But his last outing to the House of Commons did provide some good news for motorists. A National Pothole Fund was setup as well as a crackdown on whiplash & personal injury claims. More changes expected to be on March 16th are a raise in taxes for motorists either through IPT or fuel duty to help balance the country's deficit. This means that the increase of IPT is only going to discourage motorist to take out road side assistance cover, potentially exposing them to crippling costs for emergency recovery in the event of a breakdown. Also Fuel duty could be hiked up by 2p a litre, despite latest figures revealing the portion HM Treasury receives form the pump price is the highest for diesel in a decade and for petrol since 2009. But we should get the full review next week and hopefully some more beneficial changes for drivers.

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Posted on 10th November 2016 at 6:33 PM

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