Vehicle Excise Duty Exemption

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Vehicle Excise Duty Exemption

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That the government recognises the economic benefits of increased classic car ownership, and support the unique contribution to the living history of the motor vehicles in the United Kingdom, by replacing the pre-1973 VED exemption with a rolling exemption for vehicle aged 25 years old and older.

Such a move would enable an increase in ownership of these vehicles which, surveys show, are well maintained by enthusiasts and are exemplars of their type - something of which we can be proud.

The relatively low number of vehicles should mean that the cost to the Exchequer should be minimal in the long run, especially as the reduction would be offset by increased ownership bringing with it increased opportunity for income in the form of VAT on maintenance, insurance, fuel, and so on.

Other nations have introduced such exemptions, which means that those countries reap the many benefits, while the UK does not - should we not seize the opporutiny this represents, as others have done?

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