Belfast Telegraph

Wednesday 30 July 2014

Cut in duty for vehicles in Budget is essential

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

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Latest News

Latest Sport

Latest Showbiz