I was delighted to learn this morning that the planned 3p fuel duty has been postponed by the government until September 2013. Not only is this good for businesses like Top Cars Chauffeurs, its good news for every household in the UK. Tireless campaigning by Fair Fuel UK has resulted in this win for the consumer, if you haven’t heard of the campaign before:
“FairFuelUK is the Nationally Recognised Award Winning Campaign fighting for lower petrol & diesel prices and is widely accredited with stopping £5 billion of fuel duty being levied on businesses and the public in 2011 and 2012”
Please visit the FairFuelUK website and show your support!
FairFuelUK’s Reaction to the Autumn Statement
Quentin Willson of FairFuelUK said: “FairFuelUK has worked tirelessly to convince MPs and Ministers that the 3p rise would be enormously damaging to the economic recovery. To their credit the treasury and the Chancellor have engaged constructively and have made the right decision. The cancellation of the 3p rise completely is a welcome surprise, it would have cost 35,000 jobs and hit growth. Fantastic News but the fight for fairer fuel pricing goes on for the sake of hard pressed businesses, the public and to stimulate growth in the economy”
The campaign is not stopping here, it plans to fight on for fair fuel prices for UK Motorists, did you know that fuel prices has raised by 60% in the last 6 years!
The Impact of Cutting Fuel Duty by 3p:
If instead of raising fuel duty the government were to introduce a 3p cut in this tax – in line with policies under action and discussion in France and the USA – the relative impact is as follows:
- Net increase of 70,000 jobs
- Growth boosted by 0.2%
- Overall reduction in fiscal position would be £1800M or less than 0.2 per cent of GDP.
- Significantly less than the £3Billion that the Treasury would expect (6p times £500M)