Budget 2022: How it impacts Electric and Low Emission Vehicles.
It’s no secret that the United Kingdom is currently facing an uncertain economic future.
In response to this, the government has released its much-anticipated budget for the upcoming year.
One of the key points in the budget is a new £500 million investment in electric and low emission vehicles. This is a significant increase from the previous budget, which only allocated £200 million for this type of research and development.
The government has also announced plans to extend the current tax break for electric vehicles, which will save consumers up to £4,500 on their purchase price. This is a welcome move, as it will help to make electric vehicles more affordable for families and businesses. The budget also includes a new £290 million fund to support the rollout of charging infrastructure across the country. This is vital, as one of the main barriers to electric vehicle adoption is the lack of charging points. By investing in this infrastructure, the government is making a clear commitment to supporting electric vehicles.
Overall, the budget contains a number of measures that will have a positive impact on electric and low emission vehicles. This is good news for both consumers and the environment.