Fuels: Excise Duties

Treasury written question – answered on 23rd September 2021.

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Photo of Abena Oppong-Asare Abena Oppong-Asare Shadow Exchequer Secretary (Treasury)

To ask the Chancellor of the Exchequer, what forecast he has made of the level of revenues from fuel duties for each of the next five years.

Photo of Helen Whately Helen Whately The Exchequer Secretary

The Office for Budget Responsibility (OBR) published its fuel duties forecast up to and including 2025-26, as part of its Economic and fiscal outlook in March 2021. This set out that fuel duties are estimated to reach £26.0bn in 2021-22, £29.2bn in 2022-23, £30.1bn in 2023-24, £30.6bn in 2024-25 and £31.2bn in 2025-26.

An updated forecast is expected to be published by the OBR on Wednesday 27 October.

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