Monday, March 16, 2015

The FairFuelUK Campaign sent a pre Budget "thank you” letter to the Chancellor of the Exchequer and the Treasury. It is sent on behalf of its prominent backers, the RAC, FTA, RHA, APN and UKLPG plus 1.1m supporters. Each MP has an average of over 1600 active campaign supporters in their constituencies. The letter to Mr Osborne asking for action on behalf of 32m voting motorists in this week’s Budget and signed by TV broadcaster and motoring journalist Quentin Willson said in part…..


"Dear Chancellor……..we would like to thank you for the 1 penny cut and freeze in fuel duty in the lifetime of this Parliament. It’s clear that you should have been given more credit for these fiscal decisions boldly made against the backdrop of the previous administration’s heinous fuel duty plans.”


"…..The pragmatic series of NIESR & CEBR evidence we presented to the Treasury in 2012 and 2013 showed that lower prices at the pumps benefits GDP, lowers inflation and generates new jobs. In fact, our latest 2015 CEBR updated research reassuringly shows that the combined effect of lower oil prices and your fuel duty policy since 2011 has saved the typical UK household over £365 a year. With over 26 million households in the UK, this equates to a £9.9 billion collective increase in household spending power broken down as follows: 

  • Due to your Fuel Duty Policy and as a direct result of the FairFuelUK Campaign = + £3.9bn
  • Due to Recent oil price falls= + £6.0bn”


"In the last 5 years of frozen fuel duty plus the very welcome 1p cut in March 2011, it surely is no coincidence that the UK economy has grown, unemployment is down and inflation nearly wiped out. A fact also endorsed by the Governor of the Bank of England.”


"….Every analyst is in no doubt that the UK economy continues to benefit from lower fuel prices and lower fuel duty, such a fiscal stimulus endorsed by the Treasury in 2014, following our extensive campaigning efforts”


In the letter FairFuelUK goes further and asks the Chancellor to deliver in this week’s Budget on 2 key campaign issues:

  1. "Please commit and state that if you help form the next Government you will freeze fuel duty on all vehicle fuels for the lifetime of the next Parliament. BUT please go further for the continuing benefit to the economy and cut duty on all vehicle fuels throughout the next Parliament by at least 3ppl. Our empirical independent economic evidence and what has been shown to have been achieved in your current term will continue to result in a net benefit to the new Exchequer.”

  2. "In your Budget, please lead FairFuelUK’s call for a full and transparent inquiry into how prices at the pumps are managed in relation to the fluctuations of oil prices. This is supported by all Political Parties and has been driven hard by Jason McCartney MP, Martin Vickers MP, Rob Flello MP, Tessa Munt MP and of course by your excellent PPS and FairFuelUK’s good campaigning friend, Robert Halfon MP.”

 
Quentin Willson, Lead Campaigner for FairFuelUK said: "With The Treasury, Bank of England, CEBR and NIESR all confirming that low road fuel costs significantly benefit the economy, uplift GDP and increase consumer spending, its time to reassure the electorate that the Government will continue to keep fuel duty as low as possible."

Howard Cox, Founder of the FairFuelUK Campaign said: "All the good work in this Parliament in stopping Labour's planned tax hikes must not stop at just a continual freeze in duty. It's still way to high.Households across the UK have benefited from £10bn of spending power because of the Chancellor's duty policy and recent falls in the price of crude oil. Our economic evidence has shown that cutting duty will continue to accelerate the country's recovery, generate jobs and keep inflation low. The new Government whatever the Party must not jeopardise this hugely impactful fiscal stimulus and must pledge to lower duty and also regulate fair pricing at the pumps for all vehicle fuels.”
 
FairFuelUK's Letter to the Chancellor can be read and downloaded at: www.fairfueluk.com/Letter_to_chancellor_from_FairFuelUK_March_2015.pdf




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ADD YOUR OWN COMMENTS BELOW THIS POST. THEY ARE VERY WELCOME


[ posted by stephen pearce , 16.03.15 21:39 ]

£1.16 an oil $58 big rip off what if oil was $130 what will the price of fuel be then ??

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[ posted by Mark T, 17.03.15 12:35 ]

OK, why no publicity about the fact that the Wholesalers and retailers have ratcheted up the pump prices because "barrel prices were on the rise" - they whacked it up by at least 6p per litre. Now oil is back to below $53 a barrel, there have been no further reductions. Therefore it gets ratcheted up and sticks until the next Oil rise back towards $60 and the pump price will go up again. Always up, seldom down. Please start shouting about this, not JUST the taxation element. And we all know what Liebour will do if they get into Government don't we? Emergency budget just after the election and you can bet fuel duty will go up by 1 or 2 p.

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[ posted by Howard Cox, 17.03.15 12:50 ]

Thanks for your post. We are fighting on this front. Please follow our blog, Twitter and Facebook feeds. We have met with Ministers and 146 MPs support an inquiry to the whole fuel pricing process, that will include wholesalers and retailers. It will happen, it just takes time to get it to happen especially with just 50 days to the Election. Thanks for your support. Keep in touch

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[ posted by Barrie Jones, 01.04.15 10:39 ]

Fuel is taxed as a luxury at 20% and the EU take a cut of all the VAT that the Chancellor collects. If the Chancellor reduced the rate of VAT to 5% and increased the fuel duty by a corresponding amount it would make no difference to the motorist, but the Chancellor could then keep 3/4 of the VAT element that currently goes to the EU.

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[ posted by Jon Swain, 29.04.15 18:01 ]

Much as I laud your sterling efforts in lobbying the government regarding their fuel tax increases, what I don't understand is why, despite the crude oil prices continuing to bumble along at around $50-55/ barrel, the pump prices have steadily increased by about 7p/litre over the past few months. Is anybody 'up there' publicising this disgraceful situation, finding out why the petrol companies are allowed to force these increases and demanding some answers? They bleat on about having to buy forward when crude prices were high, so surely they have now secured very advantageous rates with the oil prices so low and for so long, so why the price creep? Sheer profiteering, and not of the government's doing. What's their latest excuse? And are you demanding a reverse?

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