That's the likely official position, but owning, using and keeping a pre-2030 IC vehicle will become increasingly difficult as time goes on:
a) fuel will continue to attract duty - presumably the ridiculous freeze against inflation will soon be removed
b) for traffic congestion reasons, road use will be applied to all vehicles, (so the fuel duty will be an optional additional cost of motoring)
c) access to urban roads will be increasingly out of bounds to IC vehicles, - there is provision in law for LAs to protect the local environment, greatly reinforced since the coroner's report on Ella Adoo-Kissi-Debrah's untimely death that traffic emissions were a factor.
d) the supply of replacement parts for IC vehicles will dry up as manufaturers have no ongoing production, and third party sources will see a rapidly shrinking market for their trade in alternative parts. It is unlikerly that a 'Cuba' type of motoring subculture will survive long because most global sources of engines from other will also dry up.
e) there may be social pressures for non-essential IC vehicle usage to stop as the impact of climate change really starts to bite.
The average age of private cars in the UK is currentlyy about 8 years, which although higher than it was in 1994, is certainly likely to fall rapidly with the above disincentives leading to large scale dumping of second cars as well as making the main family car an EV type thereby resulting in a net saving.