Question to the Department for Transport:

To ask the Secretary of State for Transport, what assessment he has made of the implications for his policies of trends in the price of electric cars (a) in 2022-2023 and (b) predicted for 2023-24.

The cost of electric cars is projected to fall rapidly over the next two to three years as energy prices normalise and electric car production costs continue to fall. DfT forecasts are that by 2026, a typical fully electric car will cost the same to lease and operate as an equivalent petrol car, once lower running costs are considered. From 2027 onwards the forecast is that it will be cheaper to lease and operate a fully electric car than a petrol equivalent.