VED hike is signalled
18th November 1993, Page 6
18th November 1993
Page 6
Page 6, 18th November 1993
— VED hike is signalled
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Keywords :
Motoring Taxation In The United Kingdom, Energy In The United Kingdom, Finance, Vehicle Excise Duty, Hydrocarbon Oil Duty, Tax
• The Government gave its clearest signal last week that it intends to increase operators' costs in the Budget later this month by hiking vehicle excise duty for LGVs.
At the AA Motoring Awards Transport Secretary John MacGregor said increasing taxes on LGVs was one of the ideas "we are already working on".
Operators escaped a tax increase in this year's March Budget but were hit by a massive 10% rise in fuel duty, leading to an average 1.1% rise in operating costs.
Former Chancellor Norman Lamont also promised to increase dery prices by another 3% in future budgets.
=I In his speech MacGregor said the new draft planning guidance PPG13, which is concerned with land use planning, has implications for transport.
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Norman Lamont, John MacGregor