Call to drop fuel duty increase
Published on 16 April 2010
With fuel prices reaching record highs and fuel duty increasing by 1 pence on April 1st-as announced in the budget. They are then being raised again in October 2010 by a further 1 pence and 0.76 pence in January 2011.
Enough is enough and the Forum of Private Business (FPB) is calling on the government to reconsider it’s plan to increase fuel duty.
The FPB state the planned increase will harm business and many smaller businesses will certainly become less profitable.
Matt Goodman, the FPB's policy representative, said: High fuel costs affect the entire economy. When prices at the pumps go up, nearly every business and consumer in the UK suffers. It's probably no coincidence that the previous record high prices in the summer of 2008 were soon followed by full-blown recession.
Following a prolonged period of decline, we are at the beginning of a crucial stage in the UK's economic recovery. Small businesses will play a central role in this recovery and must be given a tax environment in which they can thrive. Spiralling fuel duty is jeopardising small business growth and the planned increases should be shelved.