Tax Fuel per Litre (rather than a percentage)

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Tax Fuel per Litre (rather than a percentage)

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We should tax fuel on a per Litre basis rather than on a percentage basis.

This means when fuel prices are high we pay a lower level tax when and the price of fuel is low, we pay a higher level of tax.

I recommend a rate of around 75p a litre. At this tax rate, fuel prices would be approx 10p cheaper when fuel was at 140p a Litre (falling to 130p).

Likewise when prices were at 100p a litre fuel price would rise by approx 10p a litre (rising to 110p a litre).

The above is not primary aimed at lowering the average price we pay for fuel but to prevent excessive pricing and offer stability.

For instance when global fuel prices rises (i.e. due to Libya conflict, political unrest, uncertainty etc.), the rise in price is not compounded by the added tax on the price rise.

Currently if price of fuel increase by say 10p a litter then a further 6p will added to the price (due to tax) further exasperating the costs. This will not be the case if fuel is taxed per litre.

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