Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he plans to review the exemption from Vehicle Excise Duty for vehicles manufactured more than 40 years ago.

There is currently a rolling 40-year exemption from VED for classic cars. Currently, vehicles constructed before 1 January 1986 are exempt from paying VED. From 1 April 2027 vehicles constructed before 1 January 1987 will become exempt from VED.

The Government annually reviews the rates and thresholds of taxes and reliefs to ensure that they are appropriate and reflect the current state of the economy. The Chancellor makes decisions on tax policy at fiscal events, and does not routinely comment on proposals.