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Government announces plan to scrap EU law, ensuring British drivers avoid £50 a year insurance hike

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Government announces plan to scrap EU law, ensuring British drivers avoid £50 a year insurance hike
  • authorities plans to bin the EU’s ‘Vnuk’ motor insurance law – which requires insurance even on private land for a wider range of ‘autos’, including coast-on lawnmowers and mobility scooters
  • transfer will make certain every British driver is spared an estimated £50 annual increase in insurance premiums
  • resolution to scrap Vnuk from British law would reiterate advantages of leaving the EU, as we take back sustain an eye on of our absorb laws and regulations

British drivers will avoid an estimated £50 a year increase in motor insurance charges as the authorities confirms it plans to stay away with the controversial EU ‘Vnuk’ law, Transport Secretary Grant Shapps announced today (21 February 2021).

The Vnuk law requires a wider range of autos than these such as cars and motorbikes to be insured, including ones beforehand now not requiring insurance, such as golf buggies, mobility scooters and quad bikes.

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The law also extends to autos on private land, meaning folks with a coast-on lawnmower at home would require insurance the place it may probably have beforehand now not been wished.

Had the EU law been applied in Great Britain, it may probably have meant the insurance trade would have been liable for almost £2 billion in extra overall charges. These charges would likely have been passed onto their customers – British road-users.

Now we have left the EU, the measures no longer want to be applied, serving to road-users across the country steer clear of increased premiums – a clear utilize for motorists in Britain.

Bypassing Vnuk will also give protection to the existence of the UK’s world-leading motorsports trade. The EU ideas would have meant any motorsports collision keen autos from race-karting to F1 would have been treated as regular road traffic incidents requiring insurance. This may have decimated the trade due to the additional insurance charges of roughly £458 million every single year. Scrapping the ideas will save the trade from potential collapse and earn tons of of thousands of jobs in the sector in the formulation.

Video about plans to Scrap the EU Vnuk Law

Transport Secretary Grant Shapps said:

We have always disagreed with this over-the-top law that would most attention-grabbing stay one factor – hit the pockets of hard-working folks up and down the country with an unnecessary hike in their car insurance. I am ecstatic to announce that we no longer want to implement it.

Scrapping this rule would save the country billions of pounds and is part of a unique and affluent future for the UK out of doors the EU – a future in which we station our absorb ideas and regulations.

As properly as the likely financial burden on British road-users, the Vnuk ideas are belief to be unnecessary as there are already insurance packages available to Brits that quilt certain dangers on private land.

The UK officially left the EU on 31 January 2020, with the formal transition length coming to an stay on 31 December 2020, after the ratification of the UKEU Trade and Cooperation Agreement – allowing us to sustain an eye on our absorb ideas and regulations and enhance our financial and political independence.

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Government announces plan to scrap EU law, ensuring British drivers avoid £50 a year insurance hike – GOV.UK