VAT should be suspended on electric cars
Thursday, 09 June 2011
More Brits would be interested in investing in electric cars if VAT payments were suspended, according to an industry expert.
Quentin Willson said that this would help car insurance policyholders increase demand for green cars and encourage investment in this sector of motoring.
"While the government gives £5,000 grants for electric vehicles, they’re still far too expensive. Clawing back thousands of pounds of that grant in VAT isn’t helping. We need to create demand among consumers and confidence for investors. The UK must lead the world in green car technology before the Chinese beat us to it," he went on to say.
Mr Willson's words came ahead of this week's Drive the Future expo at London's Canary Wharf, which will give motorists the opportunity to drive electric, hybrid and other economic vehicles.
Recently, 150 charging points were unveiled in the capital by London mayor Boris Johnson, aimed at giving people electricity for their plug-in cars.
Posted by Claire Carter
Copyright Adfero Ltd