Connect with us

Hi, what are you looking for?

Business

RAC urges Government not to raise fuel duty on squeezed motorists

Motoring group RAC has called on the Government not to hike fuel duty in the Autumn Statement this week.

It fears that revoking the 5p cut in fuel duty would put millions of motorists struggling with inflation and higher bills under even more pressure this winter.

RAC fuel spokesman Simon Williams said: “We strongly urge the Prime Minister and Chancellor not to raise fuel duty as it would be a body blow to the millions of hard-working people who depend on their cars.

“RAC data shows a clear link between inflation and fuel prices so we fear putting further stress on already-squeezed household budgets by forcing them to spend even more on petrol and diesel would be disastrous.”

It argued that many Brits have “little choice but to drive,” and that raising fuel duty would be punishing people for “getting to work, doing the weekly shop or visiting and caring for family members.”

Sunak unveiled the five pence cut in fuel duty in March during the Spring Statement earlier this year, while he was still serving as Chancellor under Boris Johnson’s former Government.

The cut was set to remain in place until next March, while petrol prices have eased amid sliding oil prices and reduced demand, with unleaded and diesel currently trading at 165p per litre and 190p per litre respectively.

However it is unclear which support packages for consumers will remain in place as the Government looks to fill a £50bn fiscal hole, with Hunt already slashing the Energy Price Guarantee from two years to six months.

Read more:
RAC urges Government not to raise fuel duty on squeezed motorists

Advertisement

    You May Also Like

    Investing

    RevisingTheBankSecrecyAct_NorbertMichelAndJenniferSchulp_CMFAWP007   The post Revising the Bank Secrecy Act to Protect Privacy and Deter Criminals (CMFA Working Paper No.007) appeared first on Alt-M.

    Investing

    Recently, an investment advisor and Bitcoin proponent tweeted the claim that “[f]or most of human history” the “[s]eparation of money and state was the...

    Business

    Rollee enables worker’s to share their professional data, spread over one or more financial platforms. Ali Hamriti, CEO and Co-Founder of Rollee, is on...

    Business

    The energy crisis means that as the price of wholesale commercial energy hits an unprecedented high, businesses must pay notably more for their energy...

    Disclaimer: successfuldealnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 successfuldealnow.com | All Rights Reserved