ECONOMY

Road tax changes benefit 3.2 mln people

More than 3 million vehicle owners will pay lower road taxes for 2011 than this year, according to the Finance Ministry, which said it is making the fee system fairer. The changes will mean that 3.2 million owners of motorcycles and cars, representing 65 percent of the country’s vehicle owners, will save between 12 million and 330 million euros over this year, with the greatest savings for owners of small and medium-sized vehicles. ‘We are creating a fair and proportionate scale of road tax by adding a new scale for engine size, in order for the system to be more efficient and meet market conditions as they have been shaping up in the last few years,’ said a statement released by the ministry, which has also dropped the age criteria used up until this year. Owners of other vehicles will be hit with an annual increase ranging from 16 to 88 euros.