EV will remain the cheaper option for the foreseeable future though even with trying to reclaim the lost VED and fuel duty.
It's not quite that simple though, at the bottom end of the market at least.
Doing 8k miles costs me ~£160/year in electric (let's round that up to £200 if you factor in the odd occasion I use public charging)
£6-7k for a useable EV (there are cheaper, but on silly high mileage or things like battery lease Zoe, £6-7k will get you a battery owned one or an MG5)
Total over 3 years = £6,600
Adding in VED = £7,185
Add in rumoured 4p/mile = £8,145
A similar age/mileage Clio as the Zoe and you're looking at £4-5k + ~£1k/year in fuel, total over 3 years = ~£8k, slightly lower than the EV overall, but more importantly, the upfront cost is significantly lower.
Obviously the driving experience is going to be completely different, and the EV is likely to be a generally "nicer" car, but when you're scraping the bottom of the barrel, cost is almost certainly going to be the main deciding factor. You could always get an older/higher mileage ICE and the cost difference is even more stark, whereas with an EV, going any lower is likely to result in a significantly compromised vehicle for some uses (at least in the current market, obviously this is going to improve as more capable EVs hit the lower end of the market).