DRIVERS will pay less to use the Severn Crossings from January next year.

The UK Government has committed to cutting VAT from toll prices from 8th January.

Secretary of State for Wales Alun Cairns announced the 20 per cent drop this morning in line with a commitment made in the 2015 Budget.

The announcement came along with the release today of a Government report following a consultation on the future of the crossings, which was carried out in the beginning months of this year.

The VAT cut means that from next year, cars will pay £5.60 instead of £6.70, small buses or vans will pay £11.20 down from £13.40, and lorries and coaches will pay £16.70 instead of £20.

The price drop will be the first time the tolls have decreased since their introduction in 1966. The normal annual inflation increase (due 1st January 2018) will also not be applied.

It is expected that regular travellers who cross the bridges using a pre-paid TAG could save £1,400 in 2018.

This announcement quickly follows confirmation on 21st July that the UK Government will abolish the tolls altogether at the end of 2018.

Alun Cairns MP said: “For so many years, the tolls on both Severn Crossings have been seen as an economic and symbolic barrier to Wales’ future prosperity.

“This is yet another strong indicator that Wales is open for business and of the UK Government’s commitment to making the right decisions for Wales’ future as part of a strong United Kingdom.

“It is estimated that the abolishing of the tolls will boost the economy of South Wales by around £100 million a year, and regular motorists could save over £1,400 per year.

“The UK Government is also today publishing its response to the consultation on its proposals to reduce the Severn Crossing tolls launched earlier this year. In view of the responses received, the Government is confirming that it will not press ahead with halving the tolls but instead commit to abolishing the tolls entirely at the end of 2018."

To read the report, visit http://bit.ly/2vX5Cje