"The Government has backed the UK automotive sector with EV incentives and global trade deals, helping drive growth and encourage decarbonisation. But scrapping ECOS would undermine that progress - penalising workers, reducing Exchequer income and putting green investment at risk. At a time when the Budget should fuel growth, the measure will do the exact opposite. It is time for a rethink."
"It is now up to the Chancellor to avoid own goals on growth in this month's Budget and encourage adoption by refusing to slap business rates on public chargers and resisting the temptation to scrap the Employee Car Ownership Scheme."
"Petrol sales are collapsing while electric vehicle sales continue to surge. Drivers have done their homework and they know there are more affordable models, better lease options and smarter charging choices than ever before."
In October, 144,948 new cars were registered, with battery electric vehicles capturing a 25.4% market share. Petrol registrations declined by 11.6%, representing a 44.4% market share down from 50.5% the previous year. Industry leaders credit government EV incentives and global trade deals with supporting growth and decarbonisation but warn that scrapping the Employee Car Ownership Scheme (ECOS) would penalise workers, reduce Exchequer income and jeopardise green investment. Observers urge the Chancellor not to impose business rates on public chargers and caution that measures undermining incentives would slow EV adoption despite increasing affordability, lease options and charging choices for drivers.
Read at London Business News | Londonlovesbusiness.com
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