Wednesday 24 February 2021
Despite upfront costs, owning and running an electric vehicle is quite often cheaper than an equivalent gasoline vehicle. For owners, this is undeniably good news. But governments around the world are losing tax money. According to research from The Sunday Times Driving, the UK government is losing £1,000 in fuel duty and emissions-based taxes in the first year when someone switches to an EV. This isn’t surprising when we consider that more than 50% of petrol’s cost is duty and tax. As soon as demand for petrol and diesel falls, the government’s purse strings tighten. The report says that when…
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