Holding Fire on getting a loan from Lloyds for an EV5 Nov 2025 22:50
“Electric vehicle (EV) drivers will be hit with a new pay-per-mile tax in the Budget, The Telegraph can reveal.
Under current plans, to be announced by the Chancellor on Nov 26, drivers of electric cars will be charged 3p per mile on top of other road taxes.
The scheme, set to kick in from 2028 after a consultation, will mean the average driver faces paying an extra £250 a year.
The Treasury will make the move amid falling fuel duty revenue as people move from petrol to electric cars. Up to six million people are set to be driving EVs by the time the tax comes in.”
I wonder how this will damage Lloyds on car loans particularly after the damaging car finance scandal.