Fuel prices

[Martin Cassini]

A few decades ago, when income tax hit 98%, most high earners went into tax exile. Now the top rate of tax is a reasonable 50%, although it’s due to drop to 40% (also reasonable) as soon as the government can swing it. Tax on fuel is an unreasonable 66% but people hit by the artificially high price can’t afford to fill their tanks, let alone decamp. Ministers justify the unjustifiable by saying they need to raise another £1.5bn. As I keep saying, traffic system reform offers kind cuts in the tens of billions. So what are ministers waiting for? I appreciate the environmental argument in favour of fewer journeys, but CO2 cuts achieved that way are ludicrously small compared with what could be achieved by letting traffic filter instead of stop and restart at gas-guzzling signals. And the greening of cars is at last well under way.