"I thank my noble friend for the question. The Government are firmly committed to their modern industrial strategy and to the automotive sector. We have listened carefully to these concerns, which is why we have delayed the proposed changes until 2030, with a transitional period to 2032. There has been …..." Lord Stockwood - View Speech
"As the owner of an EV, I have a vested interest in this. The taxation of motoring is a critical source of funding for public services and investment infrastructure, including the upkeep of our roads. Fuel excise duty is £24 billion to the national tax take, and it is important, …..." Lord Stockwood - View Speech
"My Lords, at the Budget 2025 the Government announced that, to allow more time for the automotive sector to prepare for and adapt to the proposed changes in treatment for employee car ownership schemes, its implementation will be delayed until 6 April 2030, with transitional arrangements until April 2032. The …..." Lord Stockwood - View Speech
"I thank the noble Lord for the question. As I stated previously, as part of our modern industrial strategy we are committed to the automotive sector. Our ability to defer the start date for this particular policy shows that we are in open dialogue. We will continue with that dialogue...." Lord Stockwood - View Speech
"I thank the noble Lord for recognising my novice status—I appreciate it. I am in constant conversation with my colleagues. The Government are firmly committed to the automotive sector and intend to make sure that we fulfil our commitments to the sector and to the Climate Change Committee...." Lord Stockwood - View Speech
"I thank the noble and right reverend Lord for declaring his interest. I believe that hybrid vehicles are going to be taxed at half the rate, which is 1.5p a mile, as opposed to 3p a mile...." Lord Stockwood - View Speech
"The Government are committed to fairness in our tax system, so we are open to all those conversations. At the moment, we have set out the policy we intend to commit to...." Lord Stockwood - View Speech
"We believe that the tax system that has been applied is fair and balanced, but we are happy to take those points under consideration...." Lord Stockwood - View Speech
"I thank my predecessor, who did an excellent job in the Office for Investment. He will understand that we are looking at many different projects that enhance the investment attractiveness of the UK and at our commitment to our climate goals, in which the gigafactories are large and proportionate players...." Lord Stockwood - View Speech
"I thank my noble friend for the reminder. I agree that the net-zero transition creates the most attractive and best use of our capabilities in the UK. I am happy to support his comment...." Lord Stockwood - View Speech