Archive for December, 2012

Chancellor Cancels Fuel Duty Rise

Wednesday, December 5th, 2012

The Chancellor of the Exchequer has cancelled the planned 3.02p per litre rise in fuel duty scheduled for introduction in January.

Announcing the change in today’s Autumn Statement speech, Chancellor George Osborne said the move would be a “real help” for families and businesses.

The proposed rise would have cost motorists an average £2.53 for a full tank, so consumer groups and industry bodies have welcomed the freeze.  Both say higher fuel prices have curbed their driving and hurt the economy.

Mr Osborne said, “Under this government we’ll have had no increase in petrol taxes for nearly two and a half years – in fact they have been cut.  Fuel is 10p per litre cheaper than it would have been if we had stuck to the Labour tax plans and I want to keep it that way.”