Submitted on Friday 14th September 2018
Published on Thursday 20th September 2018
Current status: Closed
Closed: Wednesday 20th March 2019
Signatures: 245
Do not raise fuel duty in the Budget
The Chancellor has indicated he is considering raising fuel duty in the 2018 Autumn Budget. RAC Fuel Watch data shows fuel prices are at their highest for four years with drivers paying £7 more per fill-up on average than 12 months ago and £15 more than in 2016.
The UK has the highest duty rate for diesel and the eighth highest for unleaded in the EU. Further increases would put UK drivers and businesses at a bigger disadvantage compared to our European counterparts. Motorists already contribute around £46bn in motoring related taxation each year and higher fuel prices mean the Treasury is already benefiting from extra VAT receipts on fuel costs.
The Treasury’s own analysis in 2014 showed that lower fuel duty actually boosts economic growth which in turn yields higher revenues from other tax receipts over a long-term period.
We believe the Chancellor risks pushing further economic hardship on motorists for what is an essential item for over 40 million drivers and therefore we call on Philip Hammond to abandon any plans to raise fuel duty.
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