ByMPs have said they are disappointed by the Treasury’s response to a report outlining the need for new forms of road tax in light ofThe House of Commons Transport Committee published its Road Pricing report in February warning the Government it risks losing out on tens of billions of tax revenue if it does not explore new forms of road taxation as drivers increasingly opt for electric vehicles.the Government announced last year.
However, the Committee noted that Office of Budget Responsibility forecasts show abolishing these exemptions will raise just under £1.6bn a year by 2027/28. Instead, taken together, it said road tax and fuel duty raise nearly £35bn a year, which comprised approximately 4 per cent of overall tax receipts in 2021–22. It argued that, therefore, the ban on the sale of new petrol and diesel vehicles from 2030 and other policies to deliver net zero emissions by 2050,
It has released a new special report comprising an exchange of letters between Committee Chair Iain Stewart MP and Treasury ministers regarding its Road Pricing report.More from
gracegausden93 I understand the need to curb emissions, however, the system, as it is, penalises those people who can't afford newer or electric vehicles.