Thursday, July 3, 2014

Philip Davies with Quentin Willson at a FairFuelUK reception"At a time when many families are finding their finances under pressure it is essential that the Government supports hardworking people and businesses wherever possible. One of the most significant ways to do this is through cutting fuel duty. Whilst the Conservative Chancellor has done more than any other Chancellor in modern times by freezing fuel duty, it is essential that further action is taken. It is ridiculous that the average UK driver still pays more every year in fuel duty and VAT than for their gas and electricity bills. Given that this is just the tax, and not even the fuel itself, demonstrates the excessive scale of fuel duty.


Even with fuel duty frozen the current duty and VAT levels for both petrol and diesel are at 61% and 59% respectively. This makes Britain’s tax on petrol the second highest in Europe, and indeed the most expensive for diesel. Such disproportionate prices not only directly penalise essential industries like haulage businesses, but also hugely impact on small businesses, and even on the cost of day-to-day activities like the work commute and school run. These high costs trickle down, making the price of goods and consumer purchases more expensive, in turn affecting the amount people pay outside of the petrol station as well. The benefits to be gained from reducing fuel duty therefore cannot be underplayed.

 

With some estimates suggesting that by the end of this Parliament, pump prices will be nearly 20p per litre lower than under Labour’s fuel duty plans, it is astounding that Labour can still claim to want to tackle the cost of living. The Chancellor has made a good start by freezing fuel duty year after year, but this does not go far enough. He now needs to deliver the cut in fuel duty which would help many hard-pressed families and generate further economic growth."

 

Philip Davies MP

Pictured on the right with Quentin Willson, lead spokesman for FairFuelUK




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