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UK's emergency Budget 2010: how it affects motorists

Chancellor George Osborne will make the emergency spending cuts on Tuesday 22 June By Tim Pollard Motoring Issues 21 June 2010 09:51 The new UK Government's emergency Budget tomorrow is likely to announce a raft of spending cuts and tax rises bound to affect motorists.  The new Conservative-Liberal coalition government is taking the unusual step of holding an emergency summer Budget to reduce the national deficit, which stood at £156bn in 2009-10. The senior Cabinet members signed off the details of the Budget on Friday, but the details won't be confirmed until Tuesday 22 June 2010.Here's our preview of what to expect if you're a car owner:VAT riseMost pundits agree that the rate of value added tax will rise from today's 17.5%. If raised to 20% – the upper limit expected – it could raise an extra £11 billion a year for Government coffers.

They could've had a V8--but more opt for 4

Four is the new six. Four-cylinders have replaced sixes as America's most popular engine choice, powering 43 percent of U.S. light vehicles sold in the first half of this year, according to IHS Automotive.

Ferrari 458 Italias ‘selling for £200k in UK’

The first examples of the new Ferrari 458 Italia supercar are trading for close to £200,000, price guide Glass’s Guide reports today. It claims wealthy enthusiasts are paying a £25,000 premium to jump the queue and get into one of the first 458s in Britain. The Italia lists at £169,545 in the UK, with first deliveries due for summer 2010.