Rachel Reeves will extend the UK’s electric car grant for another year with an extra ￡1.3bn in next week’s Budget, as Sir Keir Starmer stressed he was optimistic about the future for businesses and investors in Britain.
The EV grant was launched in July and has helped about 35,000 drivers switch to electric, cutting the purchase price by either ￡1,500 or ￡3,750 depending on the model.
The scheme’s budget will be tripled and its end point will be extended from 2028-29 to 2029-30. The chancellor will also announce about ￡200mn to increase the rollout of charge points.
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