The Chancellor delivered his 2018 budget statement at the end of October, the last before Brexit, announcing better than expected public finances allowed for more Government spending than previously thought.
Changes to the way electric vehicles can be funded have been announced by Government and industry.
The regulator has evaluated the impact of its changes to the sale of GAP insurance.
The Specialist Motor Finance Apprenticeship was launched earlier this year and continues to grow in popularity with the first apprentices now starting their training.
We are currently working with the London Institute of Banking and Finance (LIBF) to redevelop the suite of training under our Specialist Automotive Finance (SAF) brand, launching early next year.
The FLA has issued guidance to members to help improve the information provided to customers on motor finance agreements through the provision of summary information at the point of sale and during the contract.
The Department for Transport published its long-awaited Road to Zero Strategy in July, confirming the commitment to end the sale of new conventional petrol and diesel cars and vans by 2040. The strategy does not propose to ban hybrid or other technologies.
The Government is encouraging bids for the management of its £400m Charging Infrastructure Investment Fund, marking a significant milestone in the future roll out of electric vehicles across the UK.
Since it began regulating consumer credit, the FCA has increasingly focused on responsible lending, highlighting the importance of assessing a customer’s ability to repay affordably and minimising the risk of financial distress.