The latest budget will have an impact on all drivers within the UK, especially in terms of fuel prices and road tax.
From August 2012, drivers will have to pay 3.02p more for a litre of fuel. The average price Brits pay for fuel currently stands at a record 139.95p per litre of unleaded petrol and 146.54p per litre of diesel.
Road tax rise
Drivers of vehicles classed as 'high polluters' are also set to suffer the consequences of the most recent budget.
As Osborne stated, all road taxes will increase, with these rises being particularly higher for vehicles in band D and above - releasing CO2 emissions from 121g/km.
In this sense, the Government suggested that road tax is still set to increase in the future and it is planning to implement a direct debt system in order to make the payment process easier for UK drivers.
Business vehicles
On top of this, new announcements stated that company car owners will pay more from 2015. The company car tax percentage multiplier will rise by 1% for cars emitting more than 75g/km of CO2 to a maximum of 35%. This will keep rising by 2% to a maximum of 37% in the 2015-16 and 2016-17 periods.
Despite the fact that the 2012 budget seems to penalise vehicles that pollute more than most, further regulations have stated that drivers of zero-emission cars will lose their exemption from company car tax as of 2015. This group will pay 13% of the vehicle's list price, increasing to 15% in 2016-17.
The Government is encouraging company car fleets to be more fuel efficient by giving them a 100% first-year capital allowance for businesses buying low-emission cars.
