THE Severn bridges could be brought back into public ownership earlier than expected – opening the door to swift reductions in tolls.

Monmouth MP David Davies – who led an inquiry into the economic impacts of the tolls in 2010 – says the handover to the government could happen months earlier than expected.

He says reductions in Corporation Tax and an increase in traffic because of low fuel prices “inevitably” means the sum owed to operators Severn River Crossing (SRC) will be paid early.

With VAT not chargeable on government-owned infrastructure under EU rules, that could lead to a swift reduction in tolls.

Mr Davies thinks the handover could happen as early as October or November next year and not in April 2018 as anticipated.

He has written to Transport Secretary Patrick McLoughlin urging the UK government to set out a detailed handover plan.

Mr Davies, who chairs Parliament’s Welsh Affairs committee, said: “Changes to Corporation Tax and an increase in traffic due to low fuel prices mean that the sum promised to SRC will inevitably be paid months earlier than expected. 

“I believe it could happen as soon as October or November 2017, so we have less than two years to put a proper plan in place.”

Figures obtained by Mr Davies from the Department for Transport show SRC collected a net revenue of £91.4m in 2014, of which just £13.16m was operational expenditure, including maintenance. SRC paid £17m in VAT.

Mr Davies said: “These figures prove there is scope for a huge cut in tolls.”

But he is also concerned that a cut in the charge of £6.60 for cars, £13.20 for vans and minibuses and £19.80 for lorries and buses could see the toll booths being overwhelmed.

Mr Davies said unless an electronic pre-payment system, similar to that for London’s congestion charge, is introduced there could be long queues at the booths.

“This would take time and require government involvement. As far as I am aware, nothing has been done yet.

“A lot of local people work as toll collectors and I know some of them are getting concerned at the lack of information about what the future holds post-concession.”

The Welsh Affairs Committee is likely to want to look further into this and will be pressing the government for the latest estimate of the handover date, he added.