RMI BODYSHOPS AUTUMN STATEMENT 2016 COMMENT

Published 23/11/2016 00:00:00 in Press Releases

Comment from Jason Moseley, Director of RMI Bodyshops (NAB/VBRA)

 

INSURANCE PREMIUMS

We welcome the chancellor’s announcement to tackle the whiplash epidemic, and plan new reforms will crack down on minor, exaggerated and fraudulent claims. The news means that millions of motorists could see their car insurance premiums cut by around £40 a year as a result.  Whiplash claims have risen by 50% over the last decade, costing insurance companies about £1bn a year.

 

PERSONAL ALLOWANCES

It was announced that the personal allowance will rise to £11,500 in April 2017. This will mean a higher disposable income for consumers and in turn will be good for businesses i.e. Bodyshops.

 

CORPORATION TAX

RMI Bodyshops are pleased to see the government’s recommitment to the Business tax road map. This includes cutting the rate of corporation tax to 17% by 2020 and reducing the burden of business rates by £6.7 billion over the next 5 years. Since 2010, the government has eased the regulatory burden on businesses and reduced the corporation tax rate from 28% to 20% with onshore tax receipts increasing by over 20% over the same period.

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

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