Government’s £400m electric car charging infrastructure fund hits delays
Fund announced in 2017 budget has yet to raise any of its promised capital from private investment
Despite being announced in last year’s autumn statement, a £400m fund to finance improved electric car infrastructure has yet to be delivered.
In a written answer to parliament, junior Treasury minister Robert Jenrick admitted that the fund – which was set to be made up of £200m from the government and £200m in private investment – has not been mustered.
The first task, procuring a fund manager to raise that £200m, is expected to start in Summer 2018.
Andy McDonald, shadow transport secretary, who asked the initial question, criticised the Government’s response. “The Government’s electric cars policy has run out of power before it’s even left the driveway,” he wrote. “It has been revealed that they have failed to secure a penny of the £200m of private investment announced in last year’s budget.”
The Society of Motor Manufacturers and Traders called it “a positive step to boost buyer confidence”, as buyers often cite lack of infrastructure as a reason for not investing in an electric vehicle.
