Russ Smith Senior contributor
Following the Government’s ruling that all new vehicles must be electric-powered from 2040 a lot of people have been running around like headless chickens predicting the end of petrol supplies and the death of the classic car market.
Looking into these proposals, it seems hybrids will be allowed to be sold under the new legislation so there will still be a need for fuel pumps to supply all these cars. That should come as no surprise as the Government needs the income from fuel duty, which currently adds £27.5billion to its tax coffers – a large hole to fill. To fill it, the cost of running electric vehicles will have to rise steeply, so anyone rubbing their hands at the idea of almost free fuel and being exempted from paying VED are going to get a nasty shock at some point. It is also 23 years until this takes place... in a world where a week is still a long time in politics.