Following the Department of Energy and Climate Change announcement that nearly half a billion fewer litres of petrol and diesel were sold between April and June than during the same period last year, FairFuelUK reiterates its call that the Government should recognise that by sensibly controlling fuel duty, it should be a growth stimulus not a Treasury cash cow. It is reported that the reduced sales at the pumps has cost the Treasury £1.3 billion in lost fuel duty.
Quentin Willson, national spokesman for FairFuelUK said, 'When we see a fall in fuel sales in a single quarter of an unprecedented 10% this tells us two very alarming things: Firstly, petrol and diesel has become unaffordable for a very significant amount of UK consumers, and secondly if those people aren't driving they're reducing their spending activity by a broadly similar percentage. This historic 10% fall in fuel sales is a telling indicator that high fuel costs are reducing the disposable income of millions of families and businesses across the country.'
Howard Cox from FairFuelUK says, 'We have repeatedly shown that a reduction in fuel duty would result in the creation of thousands of jobs and such a reduction would not result in any fiscal loss to the Government, while GDP would receive a boost too. Today's reported loss of revenue from reduced fuel consumption shows that the incredibly high prices at the pumps are self-defeating in terms of tax revenue for the treasury. With 60% of these high prices going in tax, the Government can really make a difference by getting the UK economy motoring, simply by cutting the duty now! The French have done it, so why can't we?'.
FairFuelUK is calling for real transparency in the pricing of petrol and diesel with its support for Robert Halfon MP's bill to show the complete Tax breakdown on all till receipts at the forecourts. 15,000 FairFuelUK supporters have added their backing to his Bill in just a few days. http://www.fairfueluk.com/all_on_receipt.html
See BBC Article at http://www.bbc.co.uk/news/business-19810276