Is the UK Budget good or bad news for EV owners? Here are 5 things you need to know
- UK Budget extends temporary VAT relief on domestic electricity
- £100 million of funding will support more residential public charge points
- Yet the future of the £3,750 Electric Car Grant remains unclear
Labour Party chancellor John Healey has announced his first budget statement under the recently-installed Prime Minister Andy Burnham — and while there was some welcome news for owners of internal combustion engine cars, chiefly in the form of a frozen fuel duty increase, EV owners arguably fared better.
Firstly, for anyone that can plug in their electric vehicle and charge at home, Healey confirmed that the temporary removal of VAT on domestic electricity will be extended until July 2027.
This means electric motorists won’t have to face the 5% increase until July 2027, making domestic charging by far and away the cheapest way to run any vehicle.
Irritatingly, the faster and generally more convenient public charging network still adds...
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