Tim Yeo used his casting vote as chairman of the all-party Environmental Audit Select Committee to push through a report, published last week, which backed the decision by Alistair Darling, the Chancellor, that new, higher rates of vehicle excise duty (VED) rates should apply to previously-purchased cars.
The committee had been evenly split, with three Labour MPs supporting the Government line while three Tory and Lib Dem MPs opposed it, arguing that the move amounted to retrospective taxation. Mr Yeo broke the deadlock by siding with the Labour MPs.
He is paid £40,000 a year as non-executive chairman of Eco City Vehicles Plc, a company which plans to market a hybrid car which would qualify for low rates of VED under the new tax regime, due to its low carbon emissions.
Telegraph.co.uk: Tory MP Tim Yeo in conflict-of-interest row over car tax report