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Cut fuel duty, boost the economy

Phew, what an eventful week it has been in the world of fuel price campaigning. Let us bring you up to speed

It began with national campaign group FairFuelUK, whose major sponsors are The Fuelcard Company, the Road Haulage AssociationRAC and Freight Transport Association, attending a meeting on fuel duty issues with HM Revenue & Customs and Economic Secretary Chloe Smith MP.

Meanwhile, Chancellor George Osborne gave perhaps his strongest hint yet that he does NOT plan to cut fuel duty in the forthcoming Spring Budget. Speaking in an interview on Sky News, Osborne appeared to rule out any further fuel duty cuts, commenting that previous measures to tackle fuel duty have already made a difference.

But defeat is simply not an option for FairFuelUK. In fact, it cranked up its campaign several gears by giving a preview of a major report suggesting that a cut in fuel duty is exactly what this economy needs to get back on its feet.

The official figures in question are to be published this week by the Centre for Economics and Business Research (CEBR) and suggest that a cut of 2.5p per litre would create 180,000 jobs in the first year at no net tax loss and boost GDP by 0.33 percent.  A ‘bolder’ 5ppl cut would create another 30,000 jobs. How can the Chancellor, despite his earlier words, NOT sit up and take notice of these figures?

National spokesman for FairFuelUK, Quentin Willson, said: “We’ve been saying this all along and now we can prove it.  This conclusively backs up our claim that a cut in fuel duty will boost the economy without harming Treasury revenues.  Quite rightly, the Chancellor’s priority is on stimulating growth in order to pay down the deficit.  Here is a way to do both.”

The Fuelcard Company’s sales and marketing director, Jakes de Kock, meanwhile, reminded motorists and the Government that “taxes and fuel duty currently account for 60 percent of unleaded petrol and 58 percent of diesel”.

“The plea for a fairer tax system for UK companies reliant on fuel to keep their businesses moving, is a worthy and necessary cause and impacts every consumer in the UK,” he said.

The Fuelcard Company will give its wholehearted support to FairFuelUK in the battle it faces over the coming weeks – what about you?

FairFuelUK will be conducting a major lobby of MPs outside the Houses of Parliament on 7 March (National FairFuel Day), giving a public stage to the fight for fairer fuel prices and fuel duty reforms. We will be involved in this public demonstration, as will hundreds of motorists and businesses struggling under the burden of soaring fuel prices.

To find out more about the campaign and to pledge your support (perhaps you even fancy a slice of the action?), visit: www.fairfueluk.com
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