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Balancing act: Labour's 2024 budget and the road ahead for UK motor finance

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Freeze on fuel duty brings relief, but questions linger on EV strategy and affordability in car finance. Chris Farnell reports.
The article from MSN discusses the UK's Labour Party's 2024 budget proposals and their implications for the motor finance sector. It highlights Labour's focus on economic growth, green initiatives, and addressing the cost-of-living crisis. Key points include potential changes in tax policies, such as adjustments to Vehicle Excise Duty (VED) and the introduction of incentives for electric vehicles (EVs) to promote sustainability. The budget also considers the impact on the automotive industry, which has been facing challenges like supply chain disruptions and shifts towards electric mobility. Labour's approach aims to balance economic recovery with environmental goals, potentially affecting motor finance through new regulations or financial incentives aimed at reducing carbon emissions and supporting the transition to greener transport solutions. The article also touches on the broader economic strategy, including investments in infrastructure and skills to support the automotive sector's evolution.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/balancing-act-labour-s-2024-budget-and-the-road-ahead-for-uk-motor-finance/ar-AA1vdjsK ]