| answer text |
<p>Based on the Office for Budget Responsibility’s (OBR) published policy costings,
we estimate the cumulative loss to the Exchequer from the successive fuel duty freezes
from financial year 2011-12 to the current financial year 2017-18 to be around £37.2bn.</p><p>
</p><p>The annual impacts on the Exchequer are reported in the table below.</p><table><tbody><tr><td><p>
</p></td><td><p> </p></td><td><p> </p></td><td><p>2011-12</p></td><td><p>2012-13</p></td><td><p>2013-14</p></td><td><p>2014-15</p></td><td><p>2015-16</p></td><td><p>2016-17</p></td><td><p>2017-18</p></td></tr><tr><td
colspan="3"><p>Exchequer impact (£m)</p></td><td><p>-2,275</p></td><td><p>-3,465</p></td><td><p>-4,645</p></td><td><p>-5,800</p></td><td><p>-6,375</p></td><td><p>-6,805</p></td><td><p>-7,825</p></td></tr></tbody></table><p>
</p><p>Past decisions on freezes will also incur future losses to the Exchequer in
years beyond 2017-18. The OBR’s costings of previously announced policies currently
extend to 2021-22, and the future impact of these announced freezes in fuel duty to
that year is estimated to be around £34.2bn.</p><p>The future annual impacts are set
out in the table below.</p><p> </p><table><tbody><tr><td><p> </p></td><td><p> </p></td><td><p>
</p></td><td><p>2018-19</p></td><td><p>2019-20</p></td><td><p>2020-21</p></td><td><p>2021-22</p></td></tr><tr><td
colspan="3"><p>Exchequer impact (£m)</p></td><td><p>-8,095</p></td><td><p>-8,370</p></td><td><p>-8,685</p></td><td><p>-9,030</p></td></tr></tbody></table><p>
</p><p>The OBR’s policy costings are available at the following link:</p><p> </p><p><a
href="http://budgetresponsibility.org.uk/download/policy-measures-database/" target="_blank">http://budgetresponsibility.org.uk/download/policy-measures-database/</a></p><p>
</p><p> </p><p> </p>
|
|
