Net-Zero

Drivers Face New Taxes to Help Make Up Cost of Move to Electric Cars

Who will foot the bill for the Government’s ‘green revolution’? The taxpayer, of course. Reports suggest that drivers face new taxes to help make up £30 billion of the ginormous cost of moving to electric cars. The Times has the story.

Traffic jams could paralyse the road network in coming years, a report said this week, with low-emission vehicles, which escape fuel duty, making it cheaper to drive. The report by the Tony Blair Institute for Global Change, a think tank, recommends the introduction of road pricing. Motorists would be taxed on the size of their vehicle and the time they used the roads, with higher charges during peak hours.

The report said that Rishi Sunak, the Chancellor, is facing a black hole of £30 billion in lost taxes because people in electric cars no longer pay fuel duty or vehicle excise duty. Asked whether the Government was considering road pricing, the Prime Minister’s spokesman said that Johnson would not “seek to place burdens on hardworking families”, but added that taxes needed to reflect the rising number of electric cars.

“We need to ensure that the tax system encourages the uptake of electric vehicles and that revenue from motoring taxes keeps pace with that change,” the spokesman said. “We will set out our further plans in due course.” …

The report said that drivers would spend a third more time in traffic jams because of the move to electric cars, costing the economy an estimated £121.5 billion annually.

Worth reading in full.

Families Could Pay an Extra £400 a Year to Meet Net-Zero Target

Britain’s families face paying hundreds of pounds more a year on food, flying and shipping costs to meet the net-zero emissions target by 2050, according to a new report. MailOnline has more.

The poorest tenth of households will pay an extra £80 each year by 2050 while the richest tenth will face a £400 annual bill to help sectors that currently have a low chance of hitting the Net Zero emissions target by this date.

The National Infrastructure Commission said the UK needs an industry to store the gases to help meet its pledge on carbon emissions – and taxpayers will have to spend up to £400million in the next decade to fund this.

However the executive agency added that the biggest polluting industries such as agriculture, shipping and aviation should make a £2billion-a-year contribution from 2030 – even if these costs are passed onto households.

The suggestion issued in a report provoked fury among consumer groups amid mounting concerns over how much Boris Johnson’s Net Zero commitments will end up costing hard-working families in the long run.

Among the organisations concerned about the costs involved is the TaxPayers’ Alliance, whose chief executive John O’Connell told MailOnline today: “The net zero target must not see working taxpayers landed with the bill.

“With the highest tax levels in 70 years, family finances are already strained and they cannot be expected to pay more for food, goods and travel. Ministers must promise to protect Brits from any green cost hikes.”

Worth reading in full.