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Car firms accused of trying to choke exhaust fumes test
Car manufacturers are trying to delay a new test for air pollutants that could force them to redesign many diesel models, according to a leaked letter from a motor industry lobby group. The letter to EU transport ministries says that the planned “real world” test, which would require cars to meet pollution limits while being driven in realistic conditions on the road rather than just in laboratories, should be delayed by a year until 2019.
Increase in fuel costs is scrapped
A proposed rise in fuel duty has been scrapped by George Osborne amid a truce in the “war on motorists”. The chancellor said plans to add 0.54p to the pump price in September would be shelved – keeping tax at the existing level of 57.95p in the pound.
Richard Hammond discusses apprenticeships
Last week it was National Apprentice Week and the Institute of the Motor Industry has suggested that employers increase by 70% the amount that they pays their apprentices. CEO of the IMI Steve Nash explains that in order to keep up with technology in the car industry it needs top quality young people coming into it.
Winners of Budget 2015
North Sea oil and gas industry
The decision to cut the petroleum revenue tax from 50 per cent to 35 per cent and the supplementary charge from 30 per cent to 20 per cent triggered an immediate rise in shares of companies that will benefit, such as Premier Oil and Tullow Oil.
The north of England
George Osborne committed £13bn to develop transport links in the region, including electrifying the main rail routes and building a rail hub. He also gave more details of other schemes, including those to help science and innovation, tech hubs and financial technology incubator in Leeds.
Driverless car research finds its way to £100m fund
The government has thrown its weight behind driverless cars as it seeks to position the UK at the forefront of the latest automotive technology. Chancellor George Osborne yesterday laud out plans to offer £100m – matched by the same amount from the car industry – over five years to fund research into “intelligent mobility”.
North Sea oil producers handed £1.3bn concession
North Sea oil producers will benefit from a sharp cut in taxes worth £1.3bn after the chancellor slashed the headline supplementary rate on profits in the Budget, a move that could give some ageing fields a new lease of life. George Osborne responded to the plunge in crude prices and industry pleas for help by completely rolling back a tax hike he imposed in 2011, as part of a rescue package that includes a simplified investment allowance enabling companies to claim back the costs of new spending.
Swansea tidal lagoon project thrown lifeline as subsidy talks given green light
George Osborne has thrown his weight behind the start of negotiations that could deliver taxpayer support for the construction of a tidal lagoon off Swansea, capable of delivering large volumes of renewable energy to the UK grid.
Company car taxes rise in push to switch drivers to electric
Tax rates on company cars will increase by 3per cent from 2019, but electric and hybrid car owners will continue to enjoy significantly lower rates than more polluting vehicles, the Chancellor has announced.
Skoda has the last laugh as sales top 1m for first time
It was once the laughing stock of the motor trade, prompting jokes such as: ’What do you call a Skoda with two exhausts? A wheelbarrow.’ But Skoka has recorded 1million annual sales for the first time in its 120-year history.
Jaguar Land Rover is stepping up its programme for training and hiring ex-military personnel. Now Jaguar has signed up to the Armed Forces’ corporate covenant and aims to hire 150 more ex-servicemen and women this year.
Oligarchs may give up battle for UK oil assets
The Russian oligarchs in dispute with the British government over their move to buy a series of North Sea oil and gas fields are now considering whether to back down and sell the assets.