MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
Just heard the Chancellor say no import tariff on bicycle frames. Can’t see this making Yeti, SC, etc suddenly affordable though,,
what was the tariff? I doubt its going to make up for the pound dropping from $1.4 to $1.1 over the last few years
The tariff was 4% on framesets and 14% on bikes.
A bike assembled in the UK must 70% British made to avoid the tariff. So that's basically none.
4% ? I seem to remember....
Great for UK exporters... no, hang on, I've got this wrong...
From the Green Book…
5.31 Tariff suspensions - Following applications from business stakeholders, this measure will remove tariffs on over 100 goods for two years to help put downward pressure on costs for UK producers. The measure will remove tariffs as high as 18% on goods ranging from aluminium frames used by UK bicycle manufacturers to ingredients used by UK food producers.
Not sure if “aluminium” is an example, there. Also, if it is only Aluminium, it might be referring to the extra anti-dumping tariff applied to low value Alu frames from China, rather than all frames from outside the UK. Who knows. In typical Sunak style, wait and watch for the details when they surface later.
I thought Chinese frames had a higher tariff to stop them dumping cheap frames into Europe....
Jinx! Was just editing my post to refer to that.
Does beg the question - who in the bike industry has high up connections in the government to swing that one?
^^ Nah, they are just being practical. No one will be able to afford a car soon but the high earners might be able to afford a bike.
Even Charles and Camilla will be travelling to the Coronation by tandem.
Interesting. Wonder if it also applied to ebike frames. Been hovering over the buy button for a pole voima frame for a few weeks.
TBH I’d be more happier if they dropped the VAT.
They should be encouraging and supporting frame construction in the U.K. anyway.
The good old rules of origin for exporting to the e.u. and all that.
Seems mad to import a frame and components to assemble then send back to where it all came from imho.
I heard it when he said it and thought it was a kinda random thing.
Why drop import tarrif when they could have been removing VAT, so benefitting UK manufacturers and reducing all bike costs are a time when they should be encouraged for transport?
Smacks of 'something we can announce, but don't make it to generous, and if it has some green elements then it's a win'....
Agree, bike sales should be VAT exempt to encourage the wide RSed general populous out of their toxic tin can cages, would be better for everyone involved.