Motorists across Britain could be forced to pay hefty road tolls adding hundreds on to the cost of car ownership over the next few years.
A report from Bloomberg New Energy Finance has predicted a new nationwide system of roads tolls could be introduced to compensate for fuel losses.
The proliferation of electric cars will eventually leave a large hole in fuel duty which generates billions in revenue every year, suggest the report.
Fuel duty is expected to generate the Treasury £28.8 billion in this year alone, reports RAC.
Petrol and diesel motorists pay 57.65p of tax per litre and have done for the past nine years.
When you take into account the average British driver’s mileage, which is around 7,800 miles each year, then this equates to around £1,000 per household.
The proposal to plug the gap left by a loss of fuel duty suggests motorists should pay for every mile they drive on the road in Britain.
Bloomberg suggests drivers pay 7.5p for every mile by 2030, increasing to 9.1p by 2040.
There will be a total ban on the sale of new petrol and diesel cars in 2040 which will be when the real effects of a loss in fuel duty would be evidenced.
It has been estimated that it would cost drivers £700 for the road toll payments by 2040.
Sales of new electric cars are increasing in the UK with over 4,000 registered in February alone this year, according to the Society of Motor Manufacturers and Traders (SMMT).
Alternatively fuelled cars including battery electric vehicles do still only represent a small proportion of the vehicles on the roads in the UK.
Currently, electric cars cost more up front to buy but are cheaper to run.
There are some better and more affordable high mile EVS on sale now including the Tesla Model 3, Hyundai Kona EV and Kia eNiro.
Motorists who drive an electric car which costs under £40,000 also pay zero car tax.
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