The average UK driver now pays more every year in fuel duty and VAT than for their gas and electricity bills – and that's just the tax, not the fuel. Having the highest duty for diesel and the second highest for petrol in the EU is disadvantaging millions of families and businesses across the UK and reducing consumer spending power. This Treasury cash cow of a tax impacts on the engine room of our economy, the UK haulage industry, with their predominant business cost ultimately affecting the level of all consumer product prices.
We've repeatedly asked the Treasury to challenge findings of the National Institute of Economic and Social Research that a 3p cut in duty would create 70,000 jobs and increase GDP by 0.2%, but they refuse to rebuff these figures. So far the nascent economic recovery has been bankrolled by consumers rather than industry, and having the highest fuel taxation in Europe will reduce any further flows of disposable income into the UK economy.
Over 60% of consumers do essential food shopping by car, and 50% use cars and vans to commute to work. Restricting both of these activities by high fuel taxation threatens future growth and causes misery to millions. A 3p per litre duty cut for all vehicle fuels in the budget isn't just prudent fiscal planning but should be an essential pillar of the government's strategy for economic regeneration. Any financial recovery begins through increased consumer spending. The Treasury must not ignore this essential fiscal truth.
*Quentin Willson *Motoring journalist and FairFuelUK campaigner, *Angus MacNeil MP *SNP's Westminster spokesperson on transport, *Geoff Dunning *Chief executive, Road Haulage Association, *Jason McCartney MP *Conservative member of transport select committee, *Naomi Long MP *Deputy leader, Alliance party of Northern Ireland, *Nigel Dodds MP *Deputy leader, Democratic Unionist party, *Paul Sanders *Chairman, Association of Pallet Networks, *Pete Williams *Head of external affairs, RAC, *Rob Flello MP *Labour, *Rob Shuttleworth *Chief executive, UKLPG, *Sammy Wilson MP *DUP parliamentary spokesman on economic and finance matters, *Tessa Munt MP *Liberal Democrat, PPS to the secretary of state for business, innovation and skills, *Theo de Pencier *Chief executive, Freight Transport Association, *Howard Cox *FairFuelUK campaign founder Reported by guardian.co.uk 6 hours ago.
We've repeatedly asked the Treasury to challenge findings of the National Institute of Economic and Social Research that a 3p cut in duty would create 70,000 jobs and increase GDP by 0.2%, but they refuse to rebuff these figures. So far the nascent economic recovery has been bankrolled by consumers rather than industry, and having the highest fuel taxation in Europe will reduce any further flows of disposable income into the UK economy.
Over 60% of consumers do essential food shopping by car, and 50% use cars and vans to commute to work. Restricting both of these activities by high fuel taxation threatens future growth and causes misery to millions. A 3p per litre duty cut for all vehicle fuels in the budget isn't just prudent fiscal planning but should be an essential pillar of the government's strategy for economic regeneration. Any financial recovery begins through increased consumer spending. The Treasury must not ignore this essential fiscal truth.
*Quentin Willson *Motoring journalist and FairFuelUK campaigner, *Angus MacNeil MP *SNP's Westminster spokesperson on transport, *Geoff Dunning *Chief executive, Road Haulage Association, *Jason McCartney MP *Conservative member of transport select committee, *Naomi Long MP *Deputy leader, Alliance party of Northern Ireland, *Nigel Dodds MP *Deputy leader, Democratic Unionist party, *Paul Sanders *Chairman, Association of Pallet Networks, *Pete Williams *Head of external affairs, RAC, *Rob Flello MP *Labour, *Rob Shuttleworth *Chief executive, UKLPG, *Sammy Wilson MP *DUP parliamentary spokesman on economic and finance matters, *Tessa Munt MP *Liberal Democrat, PPS to the secretary of state for business, innovation and skills, *Theo de Pencier *Chief executive, Freight Transport Association, *Howard Cox *FairFuelUK campaign founder Reported by guardian.co.uk 6 hours ago.