Budget date confirmed

10 March, 2010

The prime minister has confirmed that the 2010 Budget will be revealed on 24 March, six weeks before the predicted general election date of 6 May.

The Budget will set out Labour’s plans, should it win the election, and will hopefully reveal more about the plans for electric vehicle taxation and subsidy, as well as potential future tax policies for the business car market as a whole.

The Society of Motor Manufacturers has already responded to the announcement by calling for a “clear, consistent and supportive” Budget, including removing the planned hike in first year VED tax, removing the 3% BIK penalty on diesel cars and removing the £80,000 cap on company cars.

The car manufacturer’s association also called for clarity on the tax and incentive programmes for low-carbon vehicles, and asked the chancellor to reconsider the removal of the 20p discount biofuels currently receive, which is due to end in April.

BusinessCar will of course bring you all the news on the day as it happens.

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