Guest Post Moneysupermarket.com: What if Every Car Was Electric?

What If Every Car Was Electric?

What do you think would happen if every car on the road was powered by an electric motor?

Saving us from environmental disaster has often been talked about as being the positive side effect
of such a development; but what impact do you think it would have on the economy?

Well it turns out that it would be a pretty bad one according to British price comparison website
MoneySupermarket, who have calculated that the UK Government would lose out on £24 billion
($38.5 billion) of tax if every driver in their home nation suddenly ditched their current vehicle in
favor of an electric alternative.

The biggest loss would be from fuel duty which makes up about 80% of this total and obviously
reveals the UK government’s over reliance on motorists as a form of tax generation. It is likely that if
this was to occur, that the British government would start generating tax from other areas; possibly
through a higher tax rate placed on electricity usage.

The company has broken down has this has been calculated in the following infographic: