Fuel Duty rise to fund NHS
Hauliers are bracing themselves after the announcement of a fuel duty rise to fund the NHS is being considered by the Chancellor of the exchequer Philip Hammond.
Fuel duty could rise for first time in nearly a decade, the Chancellor Philip Hammond has suggested fuel duty might rise in the November Budget, the Chancellor is struggling to fund the NHS amid the Brexit upheaval.
He has told MP’s he must find the money needed for the NHS.
Philip Hammond refused to back Treasury analysis supporting another fuel duty freeze and instead hinted he will increase the tax on petrol and diesel in his Budget later this year to help support the struggling health service.
Speaking to MPs, Philip Hammond said the fuel duty freeze will have saved the average car driver £850 compared with the pre-2010 escalator by April 2019, and the average van driver over £2,100.
But he said “it is important that we remember the other side of this coin” as he pointed out that the freezes have cost the Exchequer around £46bn in lost revenues through to 2018-19, and a further £38bn will be forgone over the Budget forecast period – twice as much as the funds spent on all NHS nurses and doctors each year.
Although Mr Hammond acknowledged a Treasury study in 2014 that said the benefits of the freeze to the economy almost offset all tax losses, he added that the analysis would “have to be looked at again in the context of the economy today”, leading to reports of a possible fuel duty rise to fund increased NHS spend.
Petrol and diesel in the UK is subject to some of the highest levels of taxation anywhere in Europe, fuels are also at their highest prices in four years.
Hauliers are preparing for the worst and this news is a real bomb shell to there already high fuel costs.
Many people are amazed by this decision from the Chancellor and feel frustrated that the motorists are having to bail out the NHS.
I am sure we all agree that the NHS needs funding but it should be done fairly paid for by the whole country not just targeted at motorists.
With promises of new money for the NHS being promised in the Brexit referendum, it is a real blow to everyone in the Country to hear of further increases in tax, the majority of the countries people are struggling to pay there way with the Governments austerity burden being placed on them already.
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