Government confirms additional funding worth £500 million to support ULEV introduction to 2020
Tue 16 July 2013
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The Transport Secretary Patrick McLoughlin has announced that there will be £500m new funding to 2020 to encourage the introduction of ultra-low emission vehicle (ULEV) technology as well as encourage ULEV uptake. The funding will be adminstered by the Office for Low Emission Vehicles (OLEV) and will mainly be used for capital investment.
Funding had previously been confirmed only to 2015, so the new announcement ensures support for the nascent industry until at least 2020.
The announcement was made in a Written Ministerial Statement (WMS) outlining the Government’s roads reform paper ‘Action for Roads’, which provides further detail on roads investment following the latest Comprehensive Spending Review.
Government states in the ‘Action for Roads’ paper that its £500 million funding plan “constitutes one of the longest-term and most comprehensive packages of support for this sector anywhere in the world.”
The paper also re-confirms the Government’s intention to publish a long-term strategy for ULEVs later this year.
In response to the statement, Mike Baunton, the SMMT's Interim Chief Executive said: “Government’s £500 million funding and longer-term commitment will provide industry and investors with much needed certainty to research, develop and manufacture the next generation of clean, fuel-efficient vehicles in the UK and, importantly, will boost consumer confidence helping to drive up the market for low emission vehicles.”
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