Will The Treasury be the big losers from the move to EVs?
Slightly muddled thinking from The Telegraph in this article which suggests that The Treasury will be the big losers from the move to EVs.
What this fails to consider is what will happen to all that money which is currently spent on petrol and diesel and will instead be diverted to drivers’ disposable income. It’s reasonable to assume that a lot of that money will go instead to pubs, restaurants, shops and tradespeople. All this generates taxable economic activity from extra money in economy which would otherwise end up in the places which sell us oil.
Clean air and more money in consumers’ pockets - we’d call this a win win.
You can read The Telegraph's article here...