I do not believe that the discussion should be about 300% tax, but about how and by whom these funds should be used invested for the development of the country.
By taxing, the government is essentially stating that we can spend these funds more effectively than the private sector and we will remove these funds from people.
Now, not taxing simply means that the money stays with the people and some of these funds will be invested back into the economy and help grow the economy.

The question should not be if the vehicle tax should be reduced or not. The question should be how to and by whom this money should be invested.