Live petrol prices<\/p>\n
New laws are coming into force that will force petrol stations to display fuel prices in real time. This will be part of a new online platform, said Reeves.<\/p>\n
She explained: \u201cBecause I know that changes in wholesale prices are not always passed down to motorists, I\u2019m bring in new rules to mandate petrol station forecourts to show real time price rises through a new fuel finder, empowering drivers to find the cheapest fuel, calling out rip-offs and strengthening competition.\u201d<\/p>\n
She predicted\u00a0that this will save \u201cthe average household\u201d around \u00a340 a year, adding:\u00a0\u201cI know that the cost of travelling to and from work is still too expensive.”<\/p>\n
ECOS changes postponed<\/p>\n
Planned changes to employee car ownership schemes (ECOS) have been delayed until 2030, Reeves confirmed.<\/p>\n
ECOS, operated mainly by car makers and dealers, allows employees to buy brand-new cars at significantly reduced prices, with low monthly repayment bills and little to no interest charged. Usually, after six months or 6000 miles, the employee then sells the car back and replaces it with another under the same terms.\u00a0<\/p>\n
Reeves previously said the government would bring the scheme \u201cinto scope of the benefit-in-kind [BIK tax]\u00a0rules\u201d from 6 April 2026.<\/p>\n
She called ECOS a “contrived car ownership scheme” that \u201cmeans those benefiting don’t pay company car [BIK] tax”.<\/p>\n
However, \u201cto allow more time for the sector to prepare for and adapt to this change\u201d, the end of ECOS has been delayed until 6 April 2030.\u00a0<\/p>\n
ECOS accounts for around 100,000 registrations every year \u2013 5% of the annual new car market.<\/p>\n
The scheme is considered by the UK’s automotive industry to be a significant incentive for attracting and retaining talent.<\/p>\n
Luxury tax increase for EVs<\/p>\n
The cap on the UK\u2019s expensive car supplement\u00a0\u2013 or ‘luxury car tax’ \u2013\u00a0is being raised for EVs.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Live petrol prices New laws are coming into force that will force petrol stations to display fuel prices…\n","protected":false},"author":2,"featured_media":284612,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[49,50,51,47,52,48],"class_list":{"0":"post-284611","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-headlines","9":"tag-news","10":"tag-top-news","11":"tag-top-stories","12":"tag-topnews","13":"tag-topstories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/284611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=284611"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/284611\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/284612"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=284611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=284611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=284611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}