UK Government Boosts EV Subsidies Amid Tax Rise to Protect EV Owners

UK Government Announces Boost to Electric Vehicle Subsidies Amid Tax Rise The UK government has unveiled plans to increase subsidies for electric vehicles (EVs) in a bid to mitigate the impact of a tax rise expected to target EV owners in next week's budget. According to a government spokesperson, Chancellor of the Exchequer Rachel Reeves will announce 1.3 billion (1.7 billion) of further funding for electric vehicle grants, which will reduce the upfront cost of buying an EV by thousands of pounds. The announcement comes as the UK government prepares to introduce a tax rise in next week's budget, which is expected to affect EV owners. The new funding for EV grants will be made available from 2026, with the aim of supporting the transition to electric vehicles and reducing the country's reliance on fossil fuels. The exact details of the tax rise and how it will affect EV owners are yet to be confirmed. The UK government's decision to increase subsidies for EVs is seen as a response to the growing demand for electric vehicles and the need to support the transition to a low-carbon economy. The move is also expected to help mitigate the impact of the tax rise on EV owners, who may face increased costs as a result of the budget. The UK's shift towards electric vehicles is part of a broader effort to reduce the country's carbon emissions and meet its climate change targets. The government has set a goal of banning the sale of new petrol and diesel cars by 2030, and is investing heavily in the development of electric vehicle charging infrastructure. As the UK government continues to support the transition to electric vehicles, it remains to be seen how the tax rise will affect EV owners and whether the new funding for EV grants will be enough to mitigate its impact. The budget is expected to be announced next week, and further details on the tax rise and EV subsidies will be revealed at that time.