£500 million pledged to electric motoring in the UK
The annual UK Budget is always a slightly unnerving time for British motorists - the news is rarely that encouraging, and most gifts are given while something else is simultaneously being taken away. So, here at Big Motoring World we were really pleased to hear that the there is some undiluted good news on the way for the UK car industry - a £500 million cash injection to help support electric motoring in the UK.
Riding the wave
It's an announcement that is probably not that surprising, given the way the market has been moving in recent years, and the general move towards punishing drivers of more polluting vehicles such as diesels. And yet it's no less welcome for that - the electric revolution is one that has been gathering considerable momentum, and it's great to see that the Government is now backing it properly.
One of the perceived obstacles to the widespread adoption of electric vehicles has been a lack of charging points - and so the Chancellor's announcement that he is creating a new regulatory structure that will deliver a £400 million Charging Investment Infrastructure Fund is great news. The new fund will be comprised of a £200 million public investment, matched by the private sector.
More affordable for all
For a while now, electric car buyers have been able to take advantage of the current Plug-In Car Grant - a scheme that slashes the price of any plug-in by £4,500 - and now Mr Hammond has announced that this will continue until 2020 at least, after backing it with another £100 million. Once again, it's great news for those potential customers who love the idea of an electric car but have previously found the prices too high. Making electric vehicles affordable, and putting the infrastructure in place to make them a viable alternative to traditional vehicles is a key priority, and here at Big Motoring World we're delighted to see that progress is now being made on both these fronts.