Fuels: Excise Duties

(asked on 2nd February 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the amount that will be raised from fuel duty in each year from 2021 to 2035, assuming no change in duty levels.


Answered by
Kemi Badenoch Portrait
Kemi Badenoch
President of the Board of Trade
This question was answered on 8th February 2021

The Office for Budget Responsibility (OBR) publishes revenue forecasts for all Government taxes. The most recent forecast covers the financial years 2020-21 to 2025-26. For fuel duty, revenue is forecast to be £21.8 billion in 2020-21, £26.7 billion in 2021-22, £29.7 billion in 2022-23, £30.8 billion in 2023-24, £31.2 billion in 2024-25 and £31.7 billion in 2025-26. These figures can be found in Table 3.3 on http://cdn.obr.uk/CCS1020397650-001_OBR-November2020-EFO-v2-Web-accessible.pdf.

The OBR has not published forecasted tax revenues beyond 2025-26.

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