Excise Duties: Fuels

HM Treasury written question – answered on 12th July 2017.

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Photo of Neil Parish Neil Parish Chair, Environment, Food and Rural Affairs Committee

To ask Mr Chancellor of the Exchequer, what estimate he has made of how much will be raised for the public purse in fuel duty in each year to 2029-30.

Photo of Andrew Jones Andrew Jones Parliamentary Under-Secretary (Department for Transport)

According to the latest provisional statistics released by HM Revenue & Customs (HMRC), fuel duties raised £27.9bn in the 2016-17 tax year. Forecasts for fuel duty revenues in future years are provided by the independent Office for Budget Responsibility (OBR) in their ‘Economic and Fiscal Outlook’. For the latest fuel duty revenue forecast, please see Table 4.6 on page 104:

http://budgetresponsibility.org.uk/efo/economic-fiscal-outlook-march-2017/

The OBR do not publish forecasts of tax receipts past the five-year ‘scorecard’ period (currently ending in 2021-22). However, in their 2014 ‘Fiscal Sustainability Report’ they did assess the sustainability of fuel duty revenues over a longer period. Please see Chapter 4 (page 123) of the report for more information:

http://cdn.budgetresponsibility.org.uk/41298-OBR-accessible.pdf

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