Sunday, 15 February 2015

Value of UK energy taxes (estimate)

UK government gets about £45 billion in taxes from fossil fuel taxes each year. That's ignoring air passenger duty too. The taxes are:
2014 - 15 forecast
Fuel duty (petrol & diesel)£26.8 bn
Vehicle Excise Duty£5.9 bn
VAT (20% on vehicle fuel)£8 bn
VAT (5% on gas)£0.62 bn
VAT (5% on electricity)£0.72 bn
Climate change levy£2 bn
Petroleum revenue tax£1.2 bn
Air passenger duty£3.2 bn
Total (excluding Air passenger duty)£45.24 bn
  1. A survey of the UK tax system (IFS, page 5)
  2. Energy Consumption in the UK (2014) - chp 2
  3. Energy Consumption in the UK (2014) - chp 3
PS: most of the electricity tax could be considered a fossil fuel tax.

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