Wednesday, February 27, 2013
Next week the FairFuel Team and I will be spending the day at the House of Commons talking to as many MPs as we can to help cut fuel duty. Our poll shows that 70% of the population feel that high fuel costs are now their most pressing financial concern. And its only going to get worse. The falling pound and speculator activity will push pump prices even higher in the next few months and drag the economy further towards a triple dip recession. Average diesel prices are already at £1.46 and unleaded at £1.40 but analysts are saying that £1.50 for diesel is literally only weeks way. This will be a landmark figure and the highest price ever in the UK. We just can't let this happen. To blithely allow market speculation and falls in the value of sterling to inflate the cost of goods transport and services is nothing short of economic vandalism. And here's the thing. The Government has lost control of the price of road fuel. Suspending any further duty rises won't be enough - what's needed now is a bold and far-sighted decision to reduce duty by a significant amount. To anybody laying claim to a level head this is an obvious and urgent necessity. 

And to those who say, 'Where's the cash going to come from to finance a duty cut?' I'd answer by simply saying the debilitating economic effects of £1.50 plus for a litre of diesel will cost the Government infinitely more in reduced economic activity, higher inflation and loss of tax revenue. The Treasury is already losing £60 million a month because of a lower national fuel spend but this will soon mushroom to £100 million as consumers spend even less at the pumps. And if they're not driving, they're not spending which means far less activity across all economic sectors, so less VAT, income and corporation tax and serious reduction in growth.

Sterling's fall is the worst thing that could have happened to fuel prices. Because the oil market is priced in dollars, UK prices will go up significantly. This is an unstoppable force which we have to try and control by slashing the duty paid on fuel. If we don't, parts of the country (most of them rural communities) will be facing as much as £1.65 for diesel and that is an absolutely apocalyptic scenario that we must prevent at all costs. You've supported the FairFuel campaign in the past but now there's a desperate urgency to what we're doing.  Emailing your MP ahead of our meeting in the Commons next week is crucial. With strong cross-party support we can force the Chancellor to do the right thing in the Budget and cut duty and cool down pump prices. Spending just 10 minutes this weekend writing an email will be one of the most important things you'll do all year. Without your support this country will soon be priced off the road and plunged deeper into recession. Go and write that email.      

Here is the link to email your local MP: (Please follow the instructions on this link carefully)



Thanks for your fabulous support yet again.


Quentin



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