Conservatives Plan For Fuel Duty Stabiliser Would Make Fuel 10p Per Litre Cheaper
Gordon Brown and Labour have used the motorist as a limitless source of revenue since the day they came to power. The graph shows the extent that taxes on fuel rose under Labour from 1997 – 2007.
Then there was the great Green VED tax hike lie, where Brown sought to penalise motorists by back dating an increase in Car Tax rates to March 2002. described even by Greenpeace as tax to give Green taxes a bad name. Brown did another handbrake turn on most of it eventually as even Labour MP’s fearing a backlash in their constituencies rebelled.
In November 2009 the Labour Government changed the law for motorists found Not Gulity of Motoring Offences, from now on they will have pay the costs irrespective of the verdict.
In March this year came the news: Gordon Brown and Labour rip the motorist off again, since the pre-Budget report on November 2008 the fuel duty on a litre of petrol has gone up 11.46%, in the same period in Austria fuel duty has risen 2.23% and an average of 5% across 10 other EU countries.
When Brown stupidly dropped VAT to 15% for a year he increased fuel duty by 2p per litre to compensate for the loss of revenue. When VAT went back up to 17.5% Brown left the additional 2p fuel duty in place and as we pay VAT on the tax on fuel, the motorist got ripped off again.
The price of fuel in July 2008 was a record high, until now and saw Labours lowest poll rating to date, but Darling and Brown still added a staged 3p per litre increase fuel duty at the Budget.
The good news for the motorist, and everyone in the country is that a Conservative Governemnt would introduce a fuel duty stabiliser that would reduce fuel duty when the oil price is high.
Before the legions of LibLabtards start baying about the loss of revenue and we cant afford it, the answer is yes we can and it is a key part of any financial recovery.
Everything we buy in the shops has had to be transported there, the end price in the shops includes the cost of transportation, the more expensive the transport costs the more expensive the retail price.
Money taken in taxation is money taken out of the economy.
It was back in 2008 that George Osborne first announced Tory plans for a fuel duty stabiliser – an idea which was first proposed by Andrew Lilico.
The idea is simple: when the oil price is high, the fuel duty will be lowered, and vice versa.
And little would George Osborne have known in 2008 that the 2010 general election would be fought at a time when the price of petrol would be hitting an all-time high at £1.20 a litre – nearly £6 a gallon in “old money”.
And today’s Telegraph suggests that right now the introduction of the fuel duty stabiliser would probably see the price of petrol at the pump today being reduced by 10p a litre under the Conservative plan:
“The move will be funded from the increased taxes the Government raises from other levies on oil companies when wholesale prices rise… However, it is likely to prove controversial when oil prices fall as fuel duty will rise again.”
“The details of the scheme – including the price at which petrol will “stabilise” – will be the subject of a consultation launched soon after a Conservative election victory. It is expected to be launched within months if Mr Cameron is successful.
“Last night, a senior Conservative source said: “We are very straight with people. This is not a tax giveaway – instead it is a sensible, balanced policy that protects families from big increases in the oil price. When the oil price rockets, the tax falls and the petrol price at the pump stays stable – and vice-versa when the oil price falls.”