The forecast for tax expenditure on coal for UK consumers from 2024 to 2028 shows a slow but steady increase when expressed as a percentage of GDP. In 2024, the figure stands at 0.03% of GDP, rising gradually to reach 0.032% by 2028. It reflects a very slight increase year-on-year, maintaining a consistent pattern throughout this period.
Future trends to watch include the UK's ongoing transition towards renewable energy sources, which could reduce the relative significance of coal in the energy mix, thus affecting the future tax expenditure. Additionally, any changes in government policy regarding coal consumption could lead to unexpected variations in these forecasts.
