Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an estimate of the potential impact of changes in the number of people driving electric, rather than petrol or diesel, vehicles on the amount of fuel duty income that will be received by 2025-26.
The Office for Budget Responsibility’s latest update of its forecast was published on 17 November 2022. It forecast that fuel duty revenues would amount to £29.5 billion in 2025-26. The forecast can be viewed in full at the following link: https://obr.uk/efo/economic-and-fiscal-outlook-november-2022/