The shift towards EVs is putting £28bn ($35bn) of government revenue from fuel duty at risk unless the taxation of motorists is overhauled, IFS (the Institute for Fiscal Studies) has warned. The think tank suggested that a tax per mile rate could be a solution. Fuel tax revenue worth £1bn could be lost if speculation that Prime Minister Boris Johnson is to cut fuel duty by 2 pence per litre is correct.
The shift towards EVs is putting £28bn ($35bn) of government revenue from fuel duty at risk unless the taxation of motorists is overhauled, the Institute for Fiscal Studies (IFS) has warned. The think tank suggested that a tax per mile rate could be a solution. Fuel tax revenue worth £1bn could be lost if speculation that Prime Minister Boris Johnson is to cut fuel duty by 2 pence per litre is correct.