Automakers

U.K. EVs deliver hard hit to $40B fuel duty

Gasoline and diesel cars and vans should be phased out to support the shift to zero-emission vehicles, nine EU countries said.
EVs are pictured charging in London. (Reuters)
B
By:
Bloomberg
June 01, 2023 09:03 AM

British motorists are adopting electric cars much more quickly than expected, leaving a growing gap in the 32 billion pound ($39.7 billion) a year the Treasury collects from fuel duties.

Staying current is easy with newsletters delivered straight to your inbox.