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Accelerating Transport to Zero Emissions
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Sat 05 January 2013 View all news
An average motorist travelling just under 8,500 miles would save over £950 a year by switching to an electric vehicle according to a survey by Money Saving Expert.com.
Most of the savings (£773) are derived from lower fuel costs, plus £155 saved in road tax and £24 in insurance.
Money Saving Expert also calculates what would happen to Government tax revenues in the hypothetical case of 100% adoption of electric vehicles (and no change in tax rates). Their calculations show that the Treasury would lose £24 billion in tax each year if every motorist in the UK opted for an electric vehicle. Th biggest loss of revenue (around 80%) would result from lower fuel duty receipts.
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