Tories ‘Have Done a U-turn’ on Vow to Ring-Fence Vehicle Tax for Road Projects

Published on March 3, 2024

The Treasury told the PA news agency that revenue from vehicle excise duty (VED) goes into the Consolidated Fund—a general pot of tax receipts—despite promising to launch a new National Roads Fund (NRF) in 2020. It insisted VED “is being reinvested” into road schemes. The RAC said the government “seems to have done a U-turn and are quietly hoping it goes unnoticed.” The Department for Transport (DfT) said in 2016 the government “guarantees that all revenue raised from VED will be allocated to a new National Roads Fund” from 2020/21, adding this would be “underpinned by legislation.” Then-chancellor Philip Hammond said at his budget in 2018 that £28.8 billion from VED would be invested in the NRF to pay for National Highways’ planned major road schemes between 2020 and 2025....

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