FairFuelUK has renewed its call for a cut in fuel duty, pointing out that the Treasury is currently receiving a windfall from the record high prices for petrol and diesel.
Howard Cox, founder of FairFuelUK said: “With inflation jumping to its highest level in a decade as energy and fuel bills soar, we renew our supporters’ calls for the Treasury to cut Fuel Duty as a matter of top economic priority.
“High fuel prices are not saving the planet, they are crippling small businesses and low income families. It is in the power of this government to put cash back into all our pockets by doing the right thing and ignore the green myopic pressure to tax and tax. Time for the Conservatives to revert to type, and cut this regressive punitive levy.
“The vast VAT windfall now filling the Exchequers coffers from the record prices at the pumps, is more than enough extra tax revenue, to warrant a decrease in fuel duty. India has cut taxes on petrol and diesel too, all to ease consumer bills, so let’s follow their lead. Boris this fiscal move will put you back in front of the polls too. You know it makes sense.”
He warned that the rocketing price of filling up with diesel and petrol was seriously impacting UK’s economic recovery, through rising logistics distribution costs. He said the rapid increase in the cost of living would be made even worse by next year’s tax increases for millions of households and businesses. The freezing of income tax bands would also drag more workers into the tax net.
He added: “Cutting fuel duty by at least 3p per litre will bring UK vehicle fuel taxation more in line with the average of the EU and allow businesses and logistics to invest in drivers and cleaner transport.”