Cut in duty for vehicles in Budget is essential
Published 19/03/2014 | 01:30
The average UK driver now pays more every year in fuel duty and VAT than for their gas and electricity bills – and that's just the tax, not the fuel.
Having the highest duty for diesel and the second-highest for petrol in the EU is disadvantaging millions of families and businesses across the UK and reducing consumer spending power.
We've repeatedly asked the Treasury to challenge findings from the National Institute of Economic and Social Research that a 3p cut in duty would create 70,000 jobs and increase GDP by 0.2%, but they refuse to rebuff these figures.
So far, the nascent economic recovery has been bankrolled by consumers, rather than industry and having the highest fuel taxation in Europe will reduce any further flows of disposable income into the UK economy.
More than 60% of consumers do essential food shopping by car and 50% use cars and vans to commute to work. Restricting both of these activities by high fuel taxation threatens future growth and causes misery to millions.
A 3p per litre duty cut for all vehicle fuels in the Budget isn't just prudent fiscal planning; it should be an essential pillar of the Government's strategy for economic regeneration.
Any financial recovery begins through increased consumer spending. The Treasury must not ignore this essential fiscal truth.
Full list of signatories
Quentin Willson, Motoring Journalist - FairFuelUK Campaigner
Angus MacNeil MP Na h-Eileanan an Iar, SNP's Westminster Deputy Prime Minister's portfolio spokesperson and covering Transport
Geoff Dunning, Chief Exec Road Haulage Association
Jason McCartney MP Colne Valley, Member of the Transport Select Committee Conservative
Naomi Long MP East Belfast, Deputy Leader of the Alliance Party of Northern Ireland
Nigel Dodds OBE MP Belfast North is Deputy Leader of the Democratic Unionist Party
Paul Sanders. Chairman of the Association of Pallet Networks
Pete Williams, RAC Head of External Affairs
Rob Flello MP Stoke-on-Trent South , Labour
Rob Shuttleworth, Chief Exec UKLPG
Sammy Wilson MP East Antrim MLA, DUP Parliamentary Spokesman on Economic & Finance matters and Education, Science and Technology
Tessa Munt MP Wells, PPS to the Secretary of State for Business Innovation and Skills Dr Vince Cable, Liberal Democrat
Theo de Pencier, Chief Exec Freight Transport Association
Howard Cox, FairFuelUK Campaign Founder