Related: Fuel duty losses in green transition may mean new taxes, Treasury warns The move to electric cars will erode revenues from fuel duty and vehicle excise duty, so new levies - such as road tax, potentially - could be needed to fill the gap. Related: ‘Ambitious’ UK plans for electric vehicles welcomed – with reservationsīut as we covered yesterday, the Treasury says the UK will need new taxes or reduced public spending to cover the move to net zero. The exact targets and mechanisms will be set out for consultation in spring next year. Targets will be introduced from 2024 for zero-emission vehicle sales, before the 2030 deadline when the sale of new petrol and diesel cars and vans will be banned.Įnvironmental campaigners welcomed the move, while manufacturers gave a guarded response ahead of the detail of the scheme being announced. The government’s net zero strategy, released on Tuesday, showed that car manufacturers in the UK will be mandated to produce a growing proportion of zero-emission vehicles each year, to push the transition from fossil fuels to electric cars. The surge in petrol and diesel prices could spur drivers towards electric cars. , is pumping up the cost of petrol and talking up the price to hide the extra profit.”
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