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Article: DRIVETIME: MOTORING: REVVING UP A RECORD YEAR; 2.5 million new cars bring in pounds 41bn tax revenue.(Features)
- Article from:
- Coventry Evening Telegraph (England)
- Article date:
- January 3, 2003
CopyrightCOPYRIGHT 2003 Coventry Newpapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: STEWART SMITH Motoring Editor
A SECOND record year for new car sales will lead to all-time high tax revenues from Britain's motorists in 2002.
Last year the Chancellor collected more than pounds 41 billion from the British motorist and the last 12 months promises to provide another bumper tax haul for the Treasury.
A record 2.5 million new cars left the showrooms by the end of 2002, generating more than pounds 5.5 billion in VAT alone.
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