Speaking on 3AW Drive, author and futurist, Steve Sammartino said the imminent move away from fossil fuels, and with the uptake of electric cars, will mean the government will no longer receive the petrol excise and GST.
"Within 10 years there will not be a petrol car on the road" he said.
"Just like going from the dumb phone to the smart phone, overnight everyone's driving a brand new (electric) car."
With technology improving everyday, Sammartino said governments will need to get clever with the ways they tax as we gradually move towards an electric economy.
"Were going to see every house move to solar within five-ten years, the battery in your car will be used to top-up your house at night then will come back the other way, basically move to an electric economy." he explained.
"Within five years, fossil fuels cannot compete with solar."
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