Transport policy for a post-Covid UK

David M Newbery

No 15153, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: Transport policy needs reform. Future Government investment and fiscal policy needs re-orienting to stimulate the economy after the Covid-19 lock-down. Prices used in project appraisal must include all external effects, committing to proper social cost-benefit analysis. In consequence, fuel duty rates need to be more than doubled as a prelude to proper road pricing. Transport investment needs to be increased even with proper road pricing and more allocated to walking and cycling, guided by benefit-cost ratios, following Eddington’s recommendations. The paper gives five reasons for raising fuel duty rates, more on diesel than petrol, and estimates the desired levels.

Keywords: Transport policy; Fuel taxes; Road pricing; Infrastructure investment (search for similar items in EconPapers)
JEL-codes: D62 H23 R41 R48 (search for similar items in EconPapers)
Date: 2020-08
New Economics Papers: this item is included in nep-ene, nep-reg and nep-ure
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Related works:
Working Paper: Transport policy for a post-Covid UK (2020)
Working Paper: Transport policy for a post-Covid UK (2020)
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