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Chancellor Philip Hammond to unveil Spring StatementBack



Chancellor Philip Hammond to unveil Spring Statement

The UK economy is in better shape than expected, Chancellor Philip Hammond is set to say in his Spring Statement. But he will resist calls from Labour and some Tories to use the extra cash from tax receipts to ease the spending squeeze they say is pushing the public sector to breaking point. Mr Hammond will argue that the UK’s national debt is still far too high.


Renationalisation would damage economy, warns CBI 

Renationalisation of large parts of the economy would “seriously harm” the UK’s reputation as a place to invest, a leading business group has warned. CBI President, Paul Drechsler, told business leaders that such calls were driven by ideology, rather than facts. “Era-defining choices” must be based on what is best for jobs, investment and living standards in the UK, he said. The Labour Party has called for water, energy, and rail services to be brought under government control.


Teenager jailed for London moped acid attacks 

A 17-year-old boy has been jailed for 10 and a half years for attacking six moped riders with acid while trying to steal their bikes. Derryck John, from Croydon, previously admitted carrying out the attacks in the north and east of London on 13 July last year. He sprayed the riders in the face with a noxious liquid, stole two mopeds and attempted to take another four.


The Financial Times


Renault-Nissan aims for next generation battery car in 2025 

The Renault-Nissan-Mitsubishi Alliance is working to produce an electric car that uses solid-state batteries as early as 2025, in a move that puts it amid the frontrunners in the global race to launch the next generation of electric vehicles. Solid-state batteries offer a step change beyond the current liquid lithium ion technology, with the ability to hold more power and charge faster. Toyota is aiming to be first to market, with a target of commercialising a solid-state car battery in the first half of the 2020s. BMW also expects to release a car in 2026 using the next-generation technology.


The Guardian


Greens electric car push: end sale of petrol and diesel vehicles by 2030

The Greens have proposed introducing mandatory fuel efficiency standards, ending the sale of new petrol and diesel cars by 2030, and imposing a four-year 17% tax on luxury petrol and diesel cars as part of an electric vehicle policy announced on Tuesday. Under the proposal Australia would adopt a mandatory fuel efficiency standard of 105g of CO2 a kilometre by 2022, three years earlier than a proposal being considered by the federal government. It would also cut tariffs and charges on new electric or zero-emissions vehicles, including the 5% import tariff, GST and stamp duty, in order to lower the purchase price to match new petrol or diesel cars, and offer three years free registration on new zero-emissions vehicles.


The Daily Mail


Motorists don’t understand new taxes on diesel cars which will see drivers charged up to £500 more from April

Almost nine in 10 drivers have admitted they don’t understand changes to car tax that are set to be introduced next month. The new Vehicle and Excise Duty rules will see buyers of diesel cars from April 1 having to pay up to £500 more to tax a vehicle for the first year. However, 87 per cent of drivers recently surveyed said they didn’t understand the changes or were completely unaware that tax would increase for new diesel vehicles from April. The new law, which only applies to newly-registered diesel cars bought from April, pushes all 17-plate diesel vehicles one tax band higher in a bid by ministers to deter motorists from buying the fuel type. Many new diesels will only be taxed £20 more than before, however some larger models will become significantly more expensive to tax for the first year.


The Daily Express


Car insurance SHOCK: Why you may be risking a £300 fine and having your car crushed 

Hundreds of thousands of motorists in the UK are risking a £300 fine, a driving ban and even having their car crushed by driving around without insurance. Despite it being common knowledge that you need to have car insurance to operate a vehicle in the UK, hundreds of thousands of drivers are still taking risks annually. Driving without car insurance carries some hefty punishments. These include hefty fines, criminal prosecutions and, in some cases, having your car crushed.  The police could hand you a fixed penalty of £300 and 6 penalty points, if you’re caught driving a vehicle you’re not insured to drive.

Posted by Paul Carpenter on 13/03/2018