Fuel price hikes ‘political madness’
Threats to raise fuel duty have gone down like a lead balloon in the industry.
Speaking in the House of Commons in response to a question about average annual savings to hauliers since 2010, chancellor Philip Hammond appeared to suggest a potential hike was on the cards.
He said, ‘I can confirm the average road haulier has saved £23,300 per vehicle on fuel since 2010 compared with the pre-2010 escalator plans. However, the benefits to hauliers and motorists of freezing fuel duty must be balanced against the costs of the exchequer in the context of our need to fund our public services – and so we continue to keep it under review.’
In response, FairFuelUK said, ”Any increase in fuel duty will be political madness for a government that still has no long term road user transport strategy. UK’s 37m drivers are already the highest taxed in the world, with the London Mayor’s cash grabbing pollution taxes adding even more costs to hard working motorists just for getting to work.
‘Independent economists, such as the CEBR and even the Treasury itself, have shown that lower fuel duty is good for jobs, GDP, inflation, growth tax revenue and consumer spending.’
