34 Centre for Economics and Business Research Table 13: Differences vs. core results – Petrol and diesel price shock sensitivity test (£Bn) Environmental impacts Total Car Motorbike LGV HGV CO2e, driving emissions 0.7 0.6 0.0 0.2 0.0 Air quality emissions 0.1 0.1 0.0 0.0 0.0 CO2e, vehicle manufacture -0.1 -0.1 0.0 0.0 0.0 Value of time impacts Total Car Motorbike LGV HGV Time spent refuelling/recharging -0.5 -0.4 0.0 -0.1 0.0 Tax revenue impacts Total Car Motorbike LGV HGV Fuel Duty -0.7 -0.6 0.0 -0.2 0.0 VAT on fuel -9.8 -6.0 -0.1 -2.9 -0.8 Household/business spending Total Car Motorbike LGV HGV Fuel 58.2 35.4 0.7 17.1 5.0 Fuel (resource cost only) 47.6 28.8 0.5 14.1 4.2 New vehicles 1.4 1.3 0.0 0.1 0.0 Infrastructure impacts Total Car Motorbike LGV HGV Investment Costs 4.2 n/a n/a n/a n/a Electricity prices This flips around the benefit in the ‘Fuel’ row of household/business spending – electric vehicles are now more expensive to operate than petrol or diesel, so the ban on ICE vehicles forces consumers to spend more operating their vehicles. Table 14: Headline results – Electricity price shock sensitivity test (£Bn) Environmental impacts Total Car Motorbike LGV HGV CO2e, driving emissions 64.7 37.7 0.7 19.8 6.5 Air quality emissions 11.2 4.5 0.1 5.7 0.9 CO2e, vehicle manufacture -32.5 -21.5 -1.1 -8.9 -1.1 Value of time impacts Total Car Motorbike LGV HGV Time spent refuelling/recharging -46.5 -25.6 -0.4 -12.9 -7.5 Tax revenue impacts Total Car Motorbike LGV HGV Fuel Duty -59.5 -35.9 -0.7 -17.6 -5.3 VAT on fuel -13.1 -8.3 -0.2 -3.6 -1.1 Household/business spending Total Car Motorbike LGV HGV Fuel -44.6 -18.5 -0.3 -19.5 -6.3 Fuel (resource cost only) -117.2 -62.7 -1.1 -40.6 -12.7 New vehicles -187.8 -98.0 -7.2 -67.2 -15.4 Infrastructure impacts Total Car Motorbike LGV HGV Investment Costs -98.5 n/a n/a n/a n/a
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