PBR covered LIVE
December 9th, 2009 by Richard Aucock
CAR DEALER Magazine is bringing you full news of today’s important Pre-Budget Report. We’ll report live…
Then feed all the reaction to the developments for cars and car dealers to you through the day!
13.19: That’s it! No further car scrappage extension, VAT going back up to 17.5 percent, and green car/van incentives for the future. What does it all mean for car dealers? Over to you!
13.16: 0.5 percent National Insurance increase. Nobody earning under £20k to pay extra. Change to come into force April 2011.
13.06: No changes in income tax rates.
13.04: Banks to pay 50 percent on any bonuses over £25k. To yield £0.5bn. One-off hit. This is the one that’s been stealing all the pre-PBR headlines…
13.01: So car scrappage is still ending in February, then? VAT rising to 17.5 percent in January, too. How will car dealers manage the transition? Let us know your reactions!
12.58: Scrappage announced for household boilers (125,000)! 5yrs tax exemption for electric company cars. Electric vans get 100 percent 1st year capital allowance. No news on car scrappage further extension though.
12.57: QUARTER of all UK emissions come from households. Wow…
12.55: Lending still hard for small/med businesses: will work with banks to aid this. More info on £500m Capital Growth Fund ‘soon’.
12.51: Big borrowing figures. £178bn this year, then £140bn, then £117bn, to £96bn by 2013-14.
12.47: Growth of 1-1.25 percent next year predicted, rather than contraction seen in first 3 quarters of 2009.
12.43: 18-24 year olds without work wait 6mths for guaranteed employment, rather than a year. Good for apprenticeships?
12.38: Deferred increase in corporation tax for small businesses. 850k businesses to benefit. Extended empty commercial premises relief extended, too.
12.37: VAT RETURN TO 17.5 percent on JAN 1 – No further changes plannned. Reaction, car dealers?
12.36: VAT cut news…
12.34: Invest in low-carbon economy for growth – hint of green car tax incentives to come?
12.32: We’re off! 50mins of news ahead…
12.22: The debate will start in a few minutes. What does Chancellor Darling and the Government have in store for car dealers and buyers?
Tags: Budget, government, pbr
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