Fuel duty is set to be increased next year and will climb each year after that in line with inflation. Although chancellor George Osborne did not mention fuel duty in his Autumn Statement yesterday (25 November), effectively maintaining the status quo that has meant no duty rises in five years, this looks likely to end next April. Within the Spending Review document is a forecast that fuel duty revenue will increase by £2.3bn from 2015/16’s level of £27.4bn to £29.7bn […]
A leading commercial vehicle insurance broker has expressed surprise that the logistics sector has not reacted more angrily to the 3.5% hike in insurance premium tax (IPT) that came into effect this month.
Fair Fuel UK has renewed its call for the government to cut fuel duty to spur the struggling economy, after the Bank of England slashed its UK growth forecast for 2012 to close to zero. Quentin Wilson, national spokesman for FairFuelUK, says: “Growth is paralysed so it’s time the government looked at cutting fuel duty to stimulate activity. If we spend less on fuel tax, we’ll spend more on other things.” Wilson argues fuel duty is one of the last […]
More than 50 MPs are calling on the chancellor to cut fuel duty, warning that the haulage industry faces “severe damage” if fuel duty rises in line with RPI next April.