Drivers above the age of 70 will face car tax costs the same as younger road users under new VED rates from the Labour Party government. Under the shake up, electric vehicles (EVs) are no longer exempt from paying Vehicle Excise Duty, or car tax.

Although EVs registered after the 1 April date are only liable for a first-year rate of £10 until 2029, those that cost more than £40,000 will also have to pay the £425 a year 'Expensive Car Supplement', otherwise known as the luxury car tax.

EVs registered between 1 April 2017 and 31 March 2025 will now have to pay the same standard rate of road tax (now £195 a year) as all other motorists.

All cars emitting between 1-50 g/km of CO2 (that's most plug-in hybrids) will see the first year tax bill rise to £110. Currently hybrids in this band pay zero VED in the first year, while petrol and diesel cars pay £10.

Previous analysis from Zaptec found that only 16% of individuals aged 65 and above would consider making the switch to electric vehicles.

Michael Braybrook, spokesman for electric vehicle charging manufacturer, Zaptec, which commissioned the research, said: “It’s positive to see how many youngsters are keen to make the switch to an EV in the near future – although there is some work to do to convince everyone to make the transition.