Fuels: Excise Duties
(asked on 12th September 2018) - View Source
Question to the HM Treasury:
To ask Her Majesty's Government what is the estimated annual cost of their decision to suspend annual increases on fuel duty since 2010.
This question was answered on 19th September 2018
The freeze in fuel duty announced at Autumn Budget 2017 is forecast to cost the Exchequer £830 million in its first year. These costs continue in future years.
Freezes since 2011 have meant the Exchequer has not collected around £46 billion in revenues through to 2018-19, and a further £38 billion will be foregone over the Budget forecast period as a result of these previously announced freezes.