FairFuelUK (FFUK) has warned chancellor George Osborne that ending the five-year freeze on fuel duty in the Budget this Wednesday (16 March) would slow down UK economic growth. The campaign group fears that fuel duty is seen as a soft target for additional tax revenue by the chancellor who is faced with an £18bn black hole in the public finances and a potential debt overshoot of £50bn by 2020. In the absence of a duty announcement during last year’s autumn […]
FairFuelUK (FFUK) is preparing it’s strongest argument yet as to why the government should stop raising fuel duty and actually lower it instead. An economic modelling study, funded by FFUK backer RHA, has been carried out by the National Institute of Economics and Social Research, and is predicted to reveal further duty rises will be “devastating for the economy”. “We have issued an invitation to the Treasury to sit down with us and go through the findings of this research,” […]
The price of fuel has little effect on the profitability of logistics companies and isn’t the primary cause of failures in the industry, the Motor Transport Directors’ Club was told last month.
Some of road transport’s biggest companies could face a hit to their cash flow after the chancellor signalled he was bringing forward corporation tax deadlines forward yesterday.