New IFS research published today demonstrates the compelling case for road pricing as part of a radical overhaul of the way in which motoring is taxed. Current taxes - excise duties on road fuel and vehicle excise duty - are unable to capture the substantial variation by time and location in the external costs associated with motoring. At the same time, official forecasts from the Office for Budget Responsibility suggest revenues from these current taxes are set to erode significantly in the medium-term. Road pricing would provide not only a more economically rational way of taxing motoring but also a more sustainable tax base.