Fuel duty, Road transport, Tax and spending, Politics, Tax, UK news, Petrol prices, Motoring, Money Business | The Guardian
Transition to electric cars will mean £25bn a year in fuel duty disappearing from government coffers, so what are the alternatives?While the chancellor, Rachel Reeves, grapples with the parlous £40bn funding gap in Britain’s finances, another £25bn of annual revenue is revving up to disappear into the sunset.As the Treasury knows all too well, turning cars electric will spell the end of that great money-spinner fuel duty. But no one appears ready to grab the wheel and tax motoring in a different way. Continue reading…
Transition to electric cars will mean £25bn a year in fuel duty disappearing from government coffers, so what are the alternatives?
While the chancellor, Rachel Reeves, grapples with the parlous £40bn funding gap in Britain’s finances, another £25bn of annual revenue is revving up to disappear into the sunset.
As the Treasury knows all too well, turning cars electric will spell the end of that great money-spinner fuel duty. But no one appears ready to grab the wheel and tax motoring in a different way.
