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Did you budget for the Budget?

How did you feel about yesterday’s budget? Here at Business Fuelcards we were very disappointed and a bit surprised to hear the news about the fuel duty rise yesterday. With the Chancellor opening his budget speech with the statement that the OBR has identified rising oil prices as one of the main threats to the UK economy, and then not doing anything about that was, frankly, a bit baffling.

George Osborne’s Budget for 30 million motorists was a massive slap in the face for common sense.  We work with FairFuelUK, the frontline campaign for lower fuel prices, who feels deeply angered by what it calls ‘complete ignorance from the Treasury to the pain that high fuel duty taxation is causing to businesses, the public and local communities.’

Quentin Willson, national spokesman for FairFuelUK, said: “The Government has turned its back on families and businesses all across the country.  Three quarters of the electorate want lower fuel prices. It ignores the threat of rising global oil prices – even the Saudis are trying to pull down the price of crude. And it ignores robust research we gave to the PM showing that cutting duty will create jobs, improve GDP and cost the Treasury absolutely nothing. This is a mortal wound for this Government’s policies and its credibility. We showed them that cutting fuel duty by 2.5p would create 175,000 new jobs – how many jobs will be destroyed when the Government slaps 16p per gallon on in August?”

Peter Carroll, founder of FairFuelUK, said: “Diesel is at its highest price ever recorded and this failure to act is a devastating blow to families and businesses.  Poll after poll has set out that this is the number one priority for the UK.  Millions have people and thousands of businesses will feel ignored.  We gave the Government evidence based on its own model that a cut in fuel duty would not cost it any revenue overall.  Our supporters will be astonished that the Government has cut the 50p rate because ‘it damages the economy’ but will not tackle fuel duty when it’s crippling the economy”.

FairFuelUK is now upping a gear to really put pressure on those disconnected MPs who fail to understand or empathise with the reality of high pump prices. More to the point, why have so few MPs quoted FairFuelUK’s CEBR research showing a modest cut in fuel duty will generate jobs, growth and lower inflation at no cost to the Treasury. This research was based on the Treasury’s own model too.

Howard Cox, FFUK Campaign Communications, said: “Why has the Treasury missed this golden risk free opportunity to be really popular with their electorate, it beggars belief. Today one day after the Budget, we have had over 5000 emails saying how disgusted FFUK supporters are with this Government with many Tory voters saying they will never vote for them ever again. Mr Osborne has made a massive political mistake that could be costly!”

FairFuelUK is calling for more supporters to sign up to get behind the campaign at www.fairfueluk.com . The war for lower fuel prices goes on.

 

If you would like to see how much you’ve lost or gained from this year’s budget, the BBC has created a handy, online budget calculator
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