Is road pricing looming? Treasury says switch to electric cars will leave a hole in tax revenues and it is considering how to offset lost income
Treasury says in latest Net Zero Emission review that it faces a fiscal black hole from lost revenues generated from drivers through vehicle and fuel taxes
It says government will need to consider how to offset these lost tax revenues
This could be achieved through adjustments to other taxes or reductions in government spending
Rishi Sunak is reportedly in favour of a pay-as-you-drive road pricing scheme
The UK Energy Research Centre has proposed higher purchase taxes on new petrol and diesel cars in the lead-up to the ban on petrol and diesel sales in 2030
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Date: 27 May 2021