Motorists will be taxed more than smokers within years as the cost of driving hits record highs. Road tax revenues are predicted to overtake tobacco duties for the first time next year followed by the insurance premium levy in 2026, according to Telegraph analysis of the Office for Budget Responsibility (OBR) statistics. Vehicle Excise Duty receipts are forecast to net the Treasury £8.8bn between 2025 and 2026, surpassing the £8.6bn it will earn from tobacco duties that year. The Insurance Premium Tax (IPT), a levy on all insurance policies including 12pc on car premiums, will be worth £8.5bn in the following year, overtaking £8.4bn from tobacco in 2026 to 2027. Analysis of forecasts also shows that revenues from taxes imposed on drivers have been increasing faster than those on smokers and drinkers since 2022. Senior industry figures accused the Government of imposing an ever-greater “stealth tax” on drivers and taxing driving “at luxury levels”. It comes as the Government scrambles to replace lost tax revenues from smokers, which have been falling for years. Tobacco duties are expected to one day become negligible after Rishi Sunak used Labour votes this week to secure a generational ban on smoking. At the same...