Question reference: S6W-25016
- Asked by: Liam McArthur, MSP for Orkney Islands, Scottish Liberal Democrats
- Date lodged: 31 January 2024
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Current status: Answered by Fiona Hyslop on 27 February 2024
Question
To ask the Scottish Government whether it will provide a projected timeframe for the return of any money issued through its (a) Electric Vehicle Loan scheme and (b) Used Electric Vehicle Loan scheme.
Answer
The Low Carbon Transport Loan (LCTL) is administered by Energy Saving Trust (EST) on behalf of Scottish Ministers. The scheme’s terms and conditions require the loan to be repaid over a term of up to 6 years (depending on the loan applied for). EST can recycle loan repayments to fund further loans in order to maximise the value and impact of the loan funding in supporting Scottish drivers make the transition to EVs.
The funding to support the loan for 2023-2024 is fully allocated. Currently Transport Scotland officials are considering future levels of funding together with the terms and conditions that support these schemes, with the intention to re-open subject to final considerations. Individuals and businesses can register their interest on the EST website to receive further information - Used Electric Vehicle Loan - Energy Saving Trust .