For Decades 70% of the UK Electorate, 32m Tax Paying road users has been ripped off by successive Governments Today, Wednesday 22nd October, in Parliament THE CAMPAIGN FOR FAIR FUEL launches the FairFuelUK 2015 Manifesto for Growth. It has been developed based on your continuing call for pricing sanity at the fuel pumps. So much has happened since our last update that our latest news can best be seen in the very content of this report. It is no coincidence following our active lobbying and your support, that the decisions made by the Coalition Treasury in cutting this punitive levy by 1p in March 2011 and freezing it for the lifetime of this Parliament has inspired the UK Economy coming out of recession and returning to growth. The previously planned duty rises would have meant that prices at the pumps would have been in excess of £1.60 per litre and we would not be looking at a blossoming economy, where unemployment is falling, GDP growing and inflation dropping. The Government are extremely lucky that worldwide oversupply and a strong pound means that prices at the pumps are falling. Albeit too slowly and not by enough as usual. They continue to take over 60% in tax when we fill up at the pumps, we have the highest fuel duty levels in the EU and the cost of fuel directly impacts adversely on the cost of living, investment, jobs and running businesses. The Government’s welcome freeze in duty MUST NOW to be turned into a cut. The Treasury now agree with our economic modelling by carrying out their own. They said: “Our modelling suggests that these reductions in duty will increase GDP by between 0.3 and 0.5 per cent in the long term. The modelling shows increased profits, wages and consumption all add to higher tax revenues.”HM Treasury 2014 So the evidence is there that a small cut of 3p will definitely pay the Exchequer back by its consequential impact on other “growth” generated levies, such and more Corporation Tax, VAT, Income Tax, NI and even further escalation in GDP. The FairFuelUK Manifesto can be seen and downloaded at this link ... fairfueluk/manifesto/FairFuelUK_manifesto.html Other headlines from the Manifesto include: £42bn+ per year in tax is taken from 32m UK Road Users. Only 18.6% of this Road User Tax goes back into Roads Infrastructure. This represents approx. £30,000 per mile on roads. And here is food for thought, HS2 will cost up to £320m per mile to get to Birmingham just 20 minutes quicker. Imagine how £50-80bn of this predicted capital investment could benefit instead, better public transport and roads for the whole country. 26.8% of the £42bn in Road User Tax goes into spending on public transport and the railways (This kills the myth that the motorist and haulier do not support or care about public transport. This hard working group of motorists and commercial drivers has been misguided as to where their tax is actually spent. Also in the latest independent ComRes research it is clear that by supporting FairFuelUKs continuing call for a 3p fuel duty cut the benefits will be Nation-wide (7 out of 10 saying it will benefit the economy with 52% of the carless households agreeing with this statement too)
Posted on: Wed, 22 Oct 2014 10:58:01 +0000
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