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Mr King has urged the government to come up with a “more imaginative solution” as road pricing changes have already been considered “every five years”. They have called upon the government to introduce a “road mile” policy which would allow drivers a certain amount of free road use before charges were applied.
The system would also look at where a driver lives and could offer extra free miles where a motorist is cut off such as in rural areas.
Mr King joked that even naming UK motorways after football teams would be a “more popular solution” than introducing any mileage-based programme.
He said: “While the push toward electric vehicles is good for the environment, it is not good for the Exchequer.
“The Government can’t afford to lose £40bn from fuel duty and car tax when the electric revolution arrives.
“It is always assumed that road pricing would be the solution but that has been raised every five years since 1964 and is still perceived by most as a ‘poll tax on wheels’.
“We need a more imaginative solution and have proposed ‘Road Miles’ whereby every driver gets 3000 free miles, with one third more for those in rural areas, and then a small charge thereafter.
“Combined with commercialising the roads with an adopt a highway scheme with naming rights such as the Minecraft M1, Manchester Utd M6 or Adidas A1, this should prove a more popular solution.”
Chancellor Rishi Suank is understood to be “very interested” in the idea of a national mileage charging scheme to fill a £40billion hole created by electric cars.
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Sources say a new scheme would not be introduced imminently but that plans were being developed.
On-board vehicle tracking software will likely be installed in cars to monitor real-time emissions data.
Labour scrapped plans to introduce a national road pricing scheme in 2007 after major opposition from road users.
Almost two million people supported a petition campaigning against the proposals which would have seen motorists charged up to £1.30 per mile.
However, the Conservative Party had urged Labour to scrap the national road pricing policy for at least two years before the project was ended.
The new plans have been drafted together after Treasury concerns over the cost of an electric car switchover.
A government source told The Times that the issue was “increasingly pressing” after fears that key money streams will soon come to an end.
The Institute for Fiscal Studies has previously warned that electric cars would pose a “huge long-run fiscal challenge”.
Fuel duty costs will almost completely vanish as more drivers charge their cars instead of buying petrol and diesel.
Vehicle Excise Duty (VED) charges will also decline as these are based on the amount of pollution each car generates.
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