A revolutionary plan to scrap car tax and give all citizens tradeable shares in England's major road network was unveiled by a think-tank today.
The plan from the Social Market Foundation calls for all England's motorways and major A-roads to become toll roads, with drivers paying around 10p a mile to use them.
Rather than be owned by the Government, the roads would be owned by citizens, who would each be given a voucher representing their share of the network.
They, rather than the Treasury, would then benefit from the profits of road charging, with their vouchers, estimated to be worth around £1,500, tradeable on the Stock Market.
Under the scheme, vehicle owners would no longer have to pay the annual vehicle excise duty, the car tax. Also, foreign drivers would have to pay to use the toll roads.
The foundation's report, which estimated the value of the England strategic road network at around £95bn, said that the average car owner would be better off under the voucher scheme to the tune of a £1,500 asset and around £75 per year.Reuse content