Extracts from Lords debate on the Budget - Nov 13t
Wednesday, 14 November 2018 08:24
Baroness Altmann (Con): I declare an interest in that I own an
electric vehicle. I was disappointed that benefit-in-kind company
car tax rates were not addressed in the Budget. They will rise next
year from 13% to 16%, which goes entirely against the thrust of
policy and the Road to Zero strategy. Sales of zero-emission cars
are flat year on year, and we are falling ever further behind
other countries. The rise in the benefit-in-kind tax will hit
demand in that most important...Request free trial
(Con): I
declare an interest in that I own an electric vehicle. I was
disappointed that benefit-in-kind company car tax rates were not
addressed in the Budget. They will rise next year from 13% to 16%,
which goes entirely against the thrust of policy and the Road to
Zero strategy. Sales of zero-emission cars are flat year
on year, and we are falling ever further behind other
countries. The rise in the benefit-in-kind tax will hit demand in
that most important company car market, yet in the following year
the tax will drop to 2%. Clearly, people will delay purchasing
electric vehicles. I hope that the Chancellor might reconsider at
the very least bringing forward the 2% tax rate or perhaps
abandoning altogether for a year the company car tax for electric
vehicles—the benefit-in-kind tax. If we want to be a leader in this
area, it is a shame that the Chancellor has not responded
favourably to the letter that I and many others sent to him
requesting such action...
(LD):...The noble
Baroness, Lady Altmann, talked about ultra-low emission vehicles
and electric cars, the subsidies for which
were cut, even though there were goodies in the Budget for oil and
gas. That industry has real potential for the future of the UK.
This would have been the occasion to reinforce that future and to
make a substantial difference to the environment and the critical
circumstances that we face...
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