Fuel Duty Freeze welcomed by the Industry
British Trucking welcomes the Prime Minister’s announcement that fuel duty will be frozen for another year the fuel duty freeze will be great news for all British Hauliers.
The Chancellor of the Exchequer suggested In September 2018 that the duty freeze has been associated with lost revenue of approximately £46 billion over the 8 years since the first freeze in 2011.
Not satisfied with this rationale for a duty increase, the RHA (Road Haulage Association), together with FairFuelUK, commissioned the Centre for Economic and Business Research to produce an in-depth analysis to challenge his justification for a duty rise.
The CEBR analysis clearly demonstrated that a further duty freeze may actually help the Treasury to save money.
The freeze, first introduced in 2011 has, to date, saved £20 billion in consumer spending and put billions back into the economy creating a net gain, not a loss in tax revenue.
The news will come as a relief to thousands of UK haulage operators working to incredibly tight margins.
At 57.95 pence per litre, the UK still has the highest level of fuel duty Europe, making it impossible to level the playing field with our European counterparts.
The RHA (Road Haulage Association) is calling for an essential users’ rebate for lorries and other essential vehicles such as ambulances, to bring UK fuel duty into line with Germany: the EU’s most successful economy where fuel duty is 15 pence per litre cheaper.
View the RHA, FairFuelUK commissioned CEBR report, ‘The impact of the fuel duty on UK prices’, Click Here
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