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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.

Ferrari sold for record £22 million

A RARE FERRARI has been sold at auction for a record price of £22.84 million. One of just 39 models made and regarded as one of the greatest Ferraris, the 1962 Ferrari 250 GTO Berlinetta went under the hammer at Bonhams' auction in Carmel, California. A huge crowd watching the bidding broke into applause at the confirmation of the final price, which outdid the previous record for a car sold at auction.

2015 Volkswagen Touareg unveiled prior to Beijing motor show debut

Volkswagen has given the second-generation Touareg an update, and it's bringing the refreshed SUV to the Beijing motor show next week. The Touareg has been a solid global success for Volkswagen with over 720,000 units sold, despite all the ink expended discussing its pricing (especially compared to the rest of the automaker's range), and the company has spent quite a bit of time and money updating the Touareg for the 2015 model year. So what's new inside and out?