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papa smurf · 04-11-2022, 17:45

Electric cars are to be subject to vehicle excise duty for the first time under measures to be introduced by Jeremy Hunt, the UK chancellor, in this month’s Autumn Statement.

People briefed on Hunt’s plans said that applying road tax to electric vehicles was the first sign of a chancellor “dipping a toe in the water” to address the fall in motoring tax revenues caused by the transition to battery-powered vehicles, as their owners also avoid paying fuel duty.

Last year the Treasury warned that “new sources of revenue” would be needed as the country switches to EVs. Fuel duty and VED raise about £35bn for the exchequer but the Office for Budget Responsibility has forecast that the growing share of electric car sales would cut motoring tax revenues by £2.1bn by 2026-27.

https://www.ft.com/content/405467f9-...8-2582890e7820
ooh heck never saw that coming

04-11-2022, 17:45	#595
papa smurf vox populi vox dei Join Date: Mar 2007 Location: the last resort Services: every thing Posts: 14,693	Re: Rising cost of living Electric cars are to be subject to vehicle excise duty for the first time under measures to be introduced by Jeremy Hunt, the UK chancellor, in this month’s Autumn Statement. People briefed on Hunt’s plans said that applying road tax to electric vehicles was the first sign of a chancellor “dipping a toe in the water” to address the fall in motoring tax revenues caused by the transition to battery-powered vehicles, as their owners also avoid paying fuel duty. Last year the Treasury warned that “new sources of revenue” would be needed as the country switches to EVs. Fuel duty and VED raise about £35bn for the exchequer but the Office for Budget Responsibility has forecast that the growing share of electric car sales would cut motoring tax revenues by £2.1bn by 2026-27. https://www.ft.com/content/405467f9-...8-2582890e7820 ooh heck never saw that coming __________________ To be or not to be, woke is the question Whether 'tis nobler in the mind to suffer. The slings and arrows of outrageous wokedome, Or to take arms against a sea of wokies. And by opposing end them.