ELECTRIC AMBITIONS: MP presses Government on affordable loans for taxi drivers
The Government were quizzed on what steps they are taking to ensure taxi drivers have access to affordable loans and finance to complete the shift to greener, but more expensive, electric taxis.
James Frith, MP for Bury North, questioned the Secretary of State for Transport on steps to ensure drivers can access affordable loans to help with this shift.
He also pressed the Minister on what plans are in place to assist taxi drivers looking to adopt cleaner-fuel vehicles.
In response, Transport Minister Lilian Greenwood highlighted the Plug-in Taxi Grant (PiTG), a scheme introduced in 2017.
The PiTG allows drivers to receive financial support when purchasing new electric taxis. This helps offset the higher upfront costs associated with electric vehicles (EVs) compared to traditional fuel-powered cars. It has played a vital role in supporting the taxi industry’s move towards greener transport, however the fund is decreasing despite the vehicles increasing in price.
While the grant is widely welcomed, Frith’s request raises questions about further financial support needed for drivers, particularly through affordable loans, to fully embrace electric vehicles.
As electric taxis become more popular, continued Government support will be essential in ensuring the industry moves smoothly towards a cleaner future.
Lilian Greenwood, Transport Minister, said: “Since its introduction in 2017, the Plug-in Taxi Grant (PiTG) has provided more than £70m to support the purchase of over 11,000 zero emission cabs. The grant is currently funded until at least the end of this financial year.”
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