The FairFuelUK Campaign sent a pre Budget "thank you” letter to the Chancellor of the Exchequer and the Treasury. It is sent on behalf of its prominent backers, the RAC, FTA, RHA, APN and UKLPG plus 1.1m supporters. Each MP has an average of over 1600 active campaign supporters in their constituencies. The letter to Mr Osborne asking for action on behalf of 32m voting motorists in this week’s Budget and signed by TV broadcaster and motoring journalist Quentin Willson said in part…..
In the letter FairFuelUK goes further and asks the Chancellor to deliver in this week’s Budget on 2 key campaign issues:
"Dear Chancellor……..we would like to thank you for the 1 penny cut and freeze in fuel duty in the lifetime of this Parliament. It’s clear that you should have been given more credit for these fiscal decisions boldly made against the backdrop of the previous administration’s heinous fuel duty plans.”
"…..The pragmatic series of NIESR & CEBR evidence we presented to the Treasury in 2012 and 2013 showed that lower prices at the pumps benefits GDP, lowers inflation and generates new jobs. In fact, our latest 2015 CEBR updated research reassuringly shows that the combined effect of lower oil prices and your fuel duty policy since 2011 has saved the typical UK household over £365 a year. With over 26 million households in the UK, this equates to a £9.9 billion collective increase in household spending power broken down as follows:
- Due to your Fuel Duty Policy and as a direct result of the FairFuelUK Campaign = + £3.9bn
- Due to Recent oil price falls= + £6.0bn”
"In the last 5 years of frozen fuel duty plus the very welcome 1p cut in March 2011, it surely is no coincidence that the UK economy has grown, unemployment is down and inflation nearly wiped out. A fact also endorsed by the Governor of the Bank of England.”
"….Every analyst is in no doubt that the UK economy continues to benefit from lower fuel prices and lower fuel duty, such a fiscal stimulus endorsed by the Treasury in 2014, following our extensive campaigning efforts”
- "Please commit and state that if you help form the next Government you will freeze fuel duty on all vehicle fuels for the lifetime of the next Parliament. BUT please go further for the continuing benefit to the economy and cut duty on all vehicle fuels throughout the next Parliament by at least 3ppl. Our empirical independent economic evidence and what has been shown to have been achieved in your current term will continue to result in a net benefit to the new Exchequer.”
- "In your Budget, please lead FairFuelUK’s call for a full and transparent inquiry into how prices at the pumps are managed in relation to the fluctuations of oil prices. This is supported by all Political Parties and has been driven hard by Jason McCartney MP, Martin Vickers MP, Rob Flello MP, Tessa Munt MP and of course by your excellent PPS and FairFuelUK’s good campaigning friend, Robert Halfon MP.”
Quentin Willson, Lead Campaigner for FairFuelUK said: "With The Treasury, Bank of England, CEBR and NIESR all confirming that low road fuel costs significantly benefit the economy, uplift GDP and increase consumer spending, its time to reassure the electorate that the Government will continue to keep fuel duty as low as possible."
Howard Cox, Founder of the FairFuelUK Campaign said: "All the good work in this Parliament in stopping Labour's planned tax hikes must not stop at just a continual freeze in duty. It's still way to high.Households across the UK have benefited from £10bn of spending power because of the Chancellor's duty policy and recent falls in the price of crude oil. Our economic evidence has shown that cutting duty will continue to accelerate the country's recovery, generate jobs and keep inflation low. The new Government whatever the Party must not jeopardise this hugely impactful fiscal stimulus and must pledge to lower duty and also regulate fair pricing at the pumps for all vehicle fuels.”