SMMT News

It”s been a very good year for the chancellor

19 December 2001 #SMMT News

Record new vehicle sales have led to all-time high tax revenues

from Britain’s motorists in 2001. Last year the chancellor collected more than

£40billion(1) from the British motorist and this figure will rise dramatically

by the time we ring in the New Year for 2002.

  • Britain’s truckers delivered an average of £10million

    worth of goods on each and every one of their trucks this year, and in turn

    handed £24,000 each to HM Treasury.(2)

  • UK car drivers contributed an average £1,100 each

    to the chancellor as their part of the huge revenues generated from motoring

    related taxation.(3)

SMMT chief executive Christopher Macgowan said, ‘The chancellor

gets a massive slice of his spending money from the motorist whether they’re

car drivers or truckers and it’s a good time to remind him that we’re not limitless

cash cows. Any further changes to the taxation system must be carefully considered

to avoid upsetting the delicate balance.

Notes to editors:

  1. In 2000 the government collected £40,823,408,000

    in vehicle taxation of which £22,813,000,000 was fuel duty according

    to HM Customs and Excise data.

  2. Who’s Milking the Motor Car?

    a report tracing the income generated by a car from the first sales to the

    end of its life demonstrates that the chancellor is the biggest winner collecting

    almost £11,000 over a typical ten year life cycle.

  3. Who’s Tapping the Truck? a report tracing the main

    income from running a 38-tonne truck for 10 years shows that each vehicle

    will deliver more than £100million of goods, and generate some £235,000

    in taxes.

  4. At the end of November 2001 an all time record level of

    car registrations had been recorded of 2,332,303 units, and this is only for

    the first 11 months of the year. This compares to the previous record of 2,300,944

    for the whole year in 1989.

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