Monday, April 20, 2009
Industry lays out Budget Wish List
The motor industry laid out its wish list today for the 2009 Budget, which takes place on Wednesday.
The SMMT reiterated its call for the introduction of a scrappage scheme to be introduced, giving £2,000 to buyers who scrap cars nine years and older to replace them with new cars.
It also called on the Chancellor to:
• Remove or delay the planned 2010/2011 introduction of a first year rate of tax on new cars
• Defer the new CO2-based business car capital allowance regime to 2010/11
• Delay the introduction of the new standard Benefit-In-Kind (BIK) tax regime for the use of demonstrator and stock-in-trade cars
• Remove the 3 per cent diesel car penalty in the company car BIK calculation
• Encourage enhanced vehicle replacement in government departments and agencies in 2009 and 2010
DATED: 20.04.09
FEED: TM
The SMMT reiterated its call for the introduction of a scrappage scheme to be introduced, giving £2,000 to buyers who scrap cars nine years and older to replace them with new cars.
It also called on the Chancellor to:
• Remove or delay the planned 2010/2011 introduction of a first year rate of tax on new cars
• Defer the new CO2-based business car capital allowance regime to 2010/11
• Delay the introduction of the new standard Benefit-In-Kind (BIK) tax regime for the use of demonstrator and stock-in-trade cars
• Remove the 3 per cent diesel car penalty in the company car BIK calculation
• Encourage enhanced vehicle replacement in government departments and agencies in 2009 and 2010
DATED: 20.04.09
FEED: TM
