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Budget 2020: Chancellor adds £500 to the price of electric cars
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mirror.co.ukGrants for new electric cars have been cut in Chancellor Rishi Sunak's Budget. Despite moves elsewhere to help people make the switch, small print in the Budget saw the maximum grant for motorists moving to an electric car cut by £500 to £3,000 from Thursday.
Some £403million of Government funding will extend the grant to 2022/23. Steve Gooding, director of motoring research charity the RAC Foundation, acknowledged that the grant could not be "extravagantly generous" but warned that it risks failing to "tip the balance" for undecided buyers if it falls quicker than the retail price of electric cars.
He said: "This is still a fragile market and ultimately the advertised benefits of cheaper fuel and other running costs mean nothing to drivers
Read more on mirror.co.uk
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