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<p>The amount of vehicle excise duty collected varies year on year. A decrease of
£300 million in vehicle excise duty income between 2014-15 and 2015-16 was previously
forecast by the Office for Budget Responsibility due to expected decreases in the
average cost of licences issued as vehicles continue to become more fuel-efficient.
The actual reduction for the financial year 2015-16 was £93 million.</p><p> </p><p>The
tax disc was abolished in October 2014.</p><p> </p><p>The following table shows the
net revenue for each full financial year prior to and after the abolition of tax disc:</p><p>
</p><table><tbody><tr><td><p><strong>Year</strong></p></td><td><p><strong>Vehicle
Excise Duty collected</strong> <strong>£m</strong></p></td></tr><tr><td><p>2012-13</p></td><td><p>£6,013</p></td></tr><tr><td><p>2013-14</p></td><td><p>£6,052</p></td></tr><tr><td><p>2014-15</p></td><td><p>£6.023</p></td></tr><tr><td><p>2015-16</p></td><td><p>£5,930</p></td></tr></tbody></table><p>
</p><p> </p>
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