The government has announced bad news for anyone who has invested in an electric car (Picture: Getty)

The government has slapped new taxes on electric vehicles as it tries to plug a hole in the country’s finances.

Jeremy Hunt confirmed green cars will no longer be exempt from paying road taxes.

The chancellor confirmed the shock move as he laid out £55 billion worth of cuts and tax rises.

Electric vehicles will no longer be exempt from Vehicle Excise Duty from April
2025 to make the motoring tax system ‘fairer’, Mr Hunt has said.

The decision is likely to be strongly criticised by motorists who have made a significant financial investment to buy a modern electric car.

Tax relief for green cars were meant to incentivise take up at a time when prices remain high.

It remains to be seen how the change will impact the burgeoning industry and whether it deters people from making the switch.

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Jeremy Hunt confirmed green vehicles will have to pay the same taxes as high polluting vehicles from 2025.