MAG's CEBR report on the Economic Impact of the 2030-2040 ICEV-Ban

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MAG’s CEBR report on the Economic Impact of the 2030-2040 ICEV-Ban

The Motorcycle Action Group (MAG) has co-funded a report from The Centre
for Economics and Business Research (CEBR) on the government’s proposal
to ban the sale of internal combustion engined vehicles (ICEVs) from
2030 to 2040. The report shows the economic impact of the ban will be
five times higher than any economic benefits. Using the Government’s
own methodology for calculating costs this policy will cost the average
household £14,700.

The CEBR study, “Economic impacts of the 2030 – 2040 bans on the sale of
fossil fuel vehicles”, shows that the additional costs of the policy
dwarf any environmental benefit, specifically –

I. New vehicle purchase costs of £188 billion.

II. Time wasted by drivers waiting for EVs to recharge £47 billion.

III. Charging and distribution infrastructure £99 billion.

Any benefits BEVs offer will also be vastly lower due to the emissions
involved in vehicle production, mining for battery minerals, shorter
vehicle lifetimes (8.1 years for a BEV compared with 13.9 years for an
ICEV.) The study also forecasts a significant loss of tax revenue which
can only result in higher rates of Tax or VAT, or cuts to essential
public services.

MAG Chair, Neil Liversidge said:

“This report shows the Government’s proposal to ban internal combustion
engined vehicles is utterly misguided, even if you accept the
assumptions which they themselves have made, and without even getting
into the environmental arguments. Millions of motorcyclists stand to
lose their freedom to buy and ride a practical petrol-powered machine.
The costs of this ban are orders of magnitude greater than any possible
benefits. This is economic madness, a blight on civil liberties, and a
threat to the UK’s prosperity, our quality of life and national
security. We call on Ministers to drop this disastrous policy
immediately before it does any more damage."

The full CEBR report is available here: