Raising fuel duty will destroy jobs and hinder economic growth


 

The government’s planned 3ppl fuel duty rise scheduled for January will result in 35,000 job losses and reduce GDP growth by 0.1%, FairFuelUK (FFUK) told the Treasury today (29 October). A detailed report produced for FFUK by the National Institute for Economic and Social Research (NIESR) reveals that as a result of these lost jobs and damage to growth, the planned fuel duty hike would only bring in half the expected extra tax revenue – £800m instead of £1.5bn. However, […]