Road Pricing

Baroness Blackwood of North Oxford Excerpts

Monday 29th April 2024 Lords Chamber

[Baroness Vere of Norbiton (Con)]

My Lords, it is not opacity. What is going on here is simply that a number of options can be taken forward as taxes shift and change over time. All taxes shift and change over time with regard to the amount of money they bring into the Exchequer. The Government have forecasts as to what will happen to fuel duty and are considering all sorts of ideas as to how that would be plugged. For example, noble Lords will have seen that electric vehicles will start to pay VED from April 2025. It will not be at the same level as for an ICE vehicle, but it is right that EVs start to pay their way.

[Baroness Blackwood of North Oxford (Con)]

My Lords, putting aside road pricing for a second, average car insurance costs in the UK have neared £1,000 after prices rose by 58% this year. Does the Treasury intend to look into whether these increases are justifiable?

[Baroness Vere of Norbiton (Con)]

It is concerning to see such large rises in insurance. Officials are monitoring it. The Treasury is unlikely to intervene in what is a private market. However, I will write to my noble friend, because there are various helplines and advisers who can sometimes help people to find cheaper car insurance.