We've just posted to 647 MPs a report (see photo of cover) from the National Institute
of Economic and Social Research (NIESR) that shows over 35,000 jobs will be lost
in the UK economy if the 3p Fuel Duty rise goes ahead in January. Not only
that, the report shows that growth will be hit by negative 0.1% of GDP. This
effect on growth means that the Treasury won’t collect the revenue it is
expecting from the rise. You can see the report at http://www.fairfueluk.com/niesr_report.html
This report also included the following letter from me.
Do, please, read this report. I believe it’s ground-breaking and proves how damaging the January 3p fuel duty hike would be. And we're not just talking about losing 35,000 jobs and reducing growth by 0.1%. Fuel duty is a tax on work.
Some businesses even tell us they're paying up to 50% of their entire sales costs on diesel.
But there's a social cost too. All those redundancies, liquidations and a chain of personal misery, not to mention the behavioural changes caused by high fuel costs. An RAC survey says that 30% of their members now can't afford to see relatives, visit friends or take their children to after-school activities. Fuel duty is a toxic, deeply unpopular and socially divisive tax that's threatening the social interaction of this country.
One of the most chilling observations in this report from The National Institute for Economic and Social Research is that the 3p duty rise could prolong the recession by as much as three more years.
I'd like a fuel duty reduction too. And that's because it would function as Quantitative Easing for the Ordinary Man. Putting extra money in everybody's pockets - instantly.
I earnestly hope you'll read this report and make your feeling known to the Government before the Autumn Statement.
I appreciate your support,
Quentin Willson - FairFuelUK