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21 Dec
12:42

UK Treasury warns of EV transition losses

The UK’s Treasury Department has warned that increased taxes may be necessary to offset losses caused by the nation’s transition to electric vehicles (EVs), Kallanish reports. The ‘Net Zero Review’ report, published last week, highlights that taxes on the consumption of fossil fuels and emissions-intensive industries will fall during the transition. As a result, other taxes may have to be increased or spending in other areas reduced to comp…
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