Budget 2020: Ireland Cuts Its Cloth to Meet A Sustainable Measure

Budget 2020: Ireland Cuts Its Cloth to Meet A Sustainable Measure

The general response to Ireland's 2019 pre-Brexit budget was that it was a bit of a 'non-budget' for the individual. However it has introduced a new set of incentives and grants that should further promote the growth in sales of EV's across all sectors. €36m has been ring-fenced (for 2020) to drive uptake of EV sales. We will also see a doubling of the number of home chargers installed, and a roll out of the national network of on-street chargers.

In relation to the crucial factor of charging infrastructure that supports the EV driver, Budget 2020 sees a €13m allocation from Carbon Tax and the Climate Action fund to support the development of the public charging network. A further €1.5m will be invested in the installation of fast charging points at taxi ranks and other transport hubs. New Building regulations will require buildings with more than ten car spaces to provide for the installation of charge points, and by 2025 non-residential buildings with more than 20 spaces must install electrical charge points.

These types of incentives are an absolute necessity if Ireland is to reach its goal of 50 times Current Electrical Vehicle uptake, under the Climate Action Plan. However, there will always be a little sting in the tail of any budget. This comes in the form of the abolition of the €3,800 grant for businesses purchasing an EV. There still remains a Benefit-in- Kind Tax Relief for business customers which should offset the discontinuation of the grant. Business customers have until the 23rd of October 2019 to apply for the purchase grant.

As for what's in store in the UK's upcoming budget remains to be seen and how Brexit uncertainty will impact this. There is not long to wait as Sajid Javiid has announced the government will hold a budget on 6th November. "I will be setting out our plan to shape the economy for the future and triggering the start of our infrastructure revolution. This is the right and responsible thing to do - we must get on with governing," he said.

Last week the UK Treasury announced a £400 billion investment in green technologies, with the first £70 million going to the development and installation of 3000 new charge points. So as we wait to see what Brexit brings, the EV industry looks set to continue enjoying prominent financial investment.