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Fuel duty stabiliser not that complicated, says FSB

This week, The Fuelcard Company was glad to see the Federation of Small Businesses (FSB) hit out at critics of the fuel duty stabiliser – one of the crucial measures at the heart of one of most intense fair fuel campaigns in years.

A stabiliser, which would act to bring down the proportion of tax paid on fuel when oil prices rise, is being fought for by the Fair Fuel UK campaign, which is backed by The Fuelcard Company, the Road Haulage Association and the Freight Transport Association.

Unfortunately, critics have claimed it might be too expensive and complicated to implement, prompting a paper from the FSB to dispel these myths.

According to the FSB report, by basing the stabiliser on the oil price cycle, the level of fuel duty could be calculated against a trend price for oil. This would then be adjusted at regularly timed intervals following changes in the oil price cycle.  Therefore, setting the level of the stabiliser would be straightforward: fuel duty would be X pence per litre minus a proportion of the difference between the current oil and trend oil price.

With millions of drivers behind such a measure, we find it slightly odd how a minority can try to sabotage it on the grounds that it might be ‘complicated’. Surely the current strain high fuel costs are putting businesses under, the constant battle to figure out how to stay afloat, is more so?

Notice, we said ‘try to sabotage’, as we are confident about the progress the campaign is making and hope that the Government will decide in favour of such a measure, especially in light of the new FSB report.

To sign the petition for Government to scrap the 1 April fuel duty rise and introduce a fair fuel stabiliser, visit: http://www.fairfueluk.com/

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