Wednesday, August 8, 2012

Leading Fuel Campaign Group Reaction to Bank of England Slashing UK Growth Forecast


FairFuelUK, backed by the RAC and UK road freight industry, has renewed its call on the Government to cut Fuel Duty as a means of stimulating economic growth. The call comes after the Bank of England is expected to slash its growth forecast for 2012 to zero. FairFuelUK is widely credited with stopping a series of Fuel Duty rises over the last 18 months which would have added a massive 9p per litre to the level of Fuel Duty.


Quentin Willson, national spokesman for FairFuelUK said, ‘Growth is paralysed so it's time the government looked at cutting fuel duty to stimulate activity. If we spend less on fuel tax we'll spend more on other things. The Government acted wisely in abandoning the most recent series of planned rises in Fuel Duty. These terrible figures from the Bank of England show that there is an urgent need to do more. Fuel Duty is one of the few levers at the Governments disposal that can have a dramatic and rapid impact on the rate of growth. Our most research showed that a cut of 2.5p per litre would boost growth by 0.33% and, crucially would be revenue neutral for the Government. The extra tax take on the resultant economic growth would compensate for any perceived loss in Fuel Duty revenue. Petrol & diesel are the oxygen of our economy. These times call for bold and decisive action’.


Peter Carroll of FairFuelUK said, ‘It is particularly telling that a Bank, Aldermore, has recently stepped forward to support FairFuelUK in reaction to the fact that a large proportion of its SME customers are citing high petrol & diesel prices as a major block to growth’.




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[ posted by Lee, 08.08.12 09:18 ]

Your catching up with me now, I said this 2 years ago.

Next prediction...
Companies cant afford fuel, jobs will be cut, crime will soar and police cuts will leave no one but vigilanties to police our own streets so fighting will rise too

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[ posted by Jim King, 08.08.12 18:23 ]

Well it would help by cutting fuel duty, ok it would.

But actually what we need is full constitutional reform. It sounds daunting doesn't it. But the current elected dictatorship is clearly not working. Never forget, WE THE PEOPLE ARE SOVEREIGN, it is that very basis, that requires us to change the system.

Fuel duty is not the disease, its just a symptom of a disease. The disease is the current system. I dont care who is in office or what colour party tie they wear, for as long as they do, they represent the party not the people.

Well its time to say no more. Its time now to act. And we dont ask for our power back, no, to ask them would suggest they have it, Instead we demand they recognise the self evident truth that WE THE PEOPLE ARE SOVEREIGN. Then we produce a codified constitution.

Whilst its always nice to provide relief from the itch caused from a skin problem, its far better to cure the problem.

Just saying.....

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[ posted by Lyn Roberts, 11.08.12 08:55 ]

I agree with Jim King 'Fuel duty is not the disease, its just a symptom of a disease'
Its time to say enough is enough
Whilst fairfuel are fighting hard and relieving our itch by putting off the fuel rises, what we actually need is a solid plan for the future to cure the problem and stimulate confidence in our small and medium businesses that are holding back because of the insecurity of future fuel prices
In their growth would come employment meaning less drawing from our state and less crime

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