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  • FIRST POST
    • MSE Guy
    • By MSE Guy 28th Jan 11, 8:45 AM
    • 1,628Posts
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    MSE Guy
    MSE News: Fuel duty hike may be scrapped
    • #1
    • 28th Jan 11, 8:45 AM
    MSE News: Fuel duty hike may be scrapped 28th Jan 11 at 8:45 AM
    This is the discussion thread for the following MSE News Story:

    "The Government has come under pressure as the cost of a litre of unleaded soared to almost 1.30 ..."

    Read the full story:
    Fuel duty hike may be scrapped


Page 1
    • Chimpofdoom
    • By Chimpofdoom 28th Jan 11, 8:53 AM
    • 793 Posts
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    Chimpofdoom
    • #2
    • 28th Jan 11, 8:53 AM
    • #2
    • 28th Jan 11, 8:53 AM
    I was reading this on sky news this morning.

    However.. in the grand scheme of things it's only a penny increase, we need that fuel stabiliser in way before March..
    • Gordon Hose
    • By Gordon Hose 28th Jan 11, 8:59 AM
    • 6,057 Posts
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    Gordon Hose
    • #3
    • 28th Jan 11, 8:59 AM
    • #3
    • 28th Jan 11, 8:59 AM
    I agree on the fuel stabiliser issue, but what is the pricing threshold they set it at? The current 130ppl, or something that will net them less like 99ppl?

    If they set it at 130ppl we'll be paying that forever, they need to get fuel down to the 1 per litre mark to make the difference everyone wants. Personally I think we're gonna get ripped off either way lol
    • Chimpofdoom
    • By Chimpofdoom 28th Jan 11, 9:16 AM
    • 793 Posts
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    Chimpofdoom
    • #4
    • 28th Jan 11, 9:16 AM
    • #4
    • 28th Jan 11, 9:16 AM
    I agree on the fuel stabiliser issue, but what is the pricing threshold they set it at? The current 130ppl, or something that will net them less like 99ppl?

    If they set it at 130ppl we'll be paying that forever, they need to get fuel down to the 1 per litre mark to make the difference everyone wants. Personally I think we're gonna get ripped off either way lol
    Originally posted by Gordon Hose
    Indeed, I've actually been contemplating getting an LPG kit installed on my and my OH's cars!
    • Percy1983
    • By Percy1983 28th Jan 11, 9:43 AM
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    Percy1983
    • #5
    • 28th Jan 11, 9:43 AM
    • #5
    • 28th Jan 11, 9:43 AM
    I love my bus pass more everyday, it seems petrol costs more everytime I fill up, but that might be because it can 6 weeks between visits.

    As mentioned we will pay it whaever happens, a stabiliser could work against us, but as with any tax decrease the question is, what other tax will they raise to fill the gap.
    • michaels
    • By michaels 28th Jan 11, 10:07 AM
    • 22,394 Posts
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    michaels
    • #6
    • 28th Jan 11, 10:07 AM
    • #6
    • 28th Jan 11, 10:07 AM
    But is there a gap to be filled - surely the govt revenue figures are based on a certain oil price - if the oil price goes up by 5p per litre they then tak in an extra 1p per litre in VAT at 20% and thus presumably exceed their revenue targets. Surely it would not be to hard to say that for this year we predict an average price of 1.15 per litre so if the price increases to 1.25 we will reduce the duty by 2p per litre to keep the tax take constant - of course the reverse would occur if the price fell to 1.05, the govt would increase duty by 2p per litre again to acheive a constant tax take.

    Only cancelling out 17% of any increase / decrease isn't as much as most would like but it would still help.
    Cool heads and compromise
  • spencer88
    • #7
    • 28th Jan 11, 11:12 AM
    • #7
    • 28th Jan 11, 11:12 AM
    The last time we saw fuel as near to this price, oil was at $150 a barrel.
    Funny how it is now only at $90 a barrel and we are paying more?
  • davidjwest
    • #8
    • 28th Jan 11, 11:22 AM
    • #8
    • 28th Jan 11, 11:22 AM
    Scrap Trident, saving 20Bn and reduce fuel duty so it's down around the 1 mark for a litre. I may start my own political party with that as our manifesto, plus taxing bankers bonuses at 75% or so.

    Who's with me, bring on the revolution brothers and sisters!

    • plumber2009
    • By plumber2009 28th Jan 11, 2:11 PM
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    plumber2009
    • #9
    • 28th Jan 11, 2:11 PM
    • #9
    • 28th Jan 11, 2:11 PM
    I am seriously considering an electric car. I can then use my diesel car for long jurneys only and use electric for daily commutes.
    There is going to be a number of electric cars released this year with goverment grants/subsidies to make them affordable.

    In the space of 1 year the fuel price has increased by about 25p a litre.
  • kolin
    i too am considering an electric car in 12 months time....

    It really annoys me that the goverment goes on about the volatility of oil prices. of a 30 fill up at the pump, around 14 of that is tax/vat/duty.
    • Gordon Hose
    • By Gordon Hose 28th Jan 11, 2:28 PM
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    Gordon Hose
    That's OK, soon there will be fuel duty on electricity.
    • Enfieldian
    • By Enfieldian 28th Jan 11, 5:34 PM
    • 2,704 Posts
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    Enfieldian
    Woo-hoo!

    So the increase of the tax on the tax for the fuel for the taxed vehicle paid for out of taxed earnings may not increase just yet?

    Who says that the government don't listen, eh....?
    • corbyboy
    • By corbyboy 29th Jan 11, 12:07 PM
    • 1,137 Posts
    • 1,378 Thanks
    corbyboy
    Since VAT is a percentage (rather than a fixed amount like fuel duty) the Government directly profits from an increase in fuel prices anyway. So for them to say they might not increase fuel duty is a pretty pathetic offering to make.
    • Kite2010
    • By Kite2010 29th Jan 11, 5:53 PM
    • 4,163 Posts
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    Kite2010
    The last time we saw fuel as near to this price, oil was at $150 a barrel.
    Funny how it is now only at $90 a barrel and we are paying more?
    Originally posted by spencer88
    But when oil was at $150 a barrel, 1 was equal to ~ $2, now the rate is a pound is worth $1.55.

    As for the scrap of the 1p raise, it would be nice but the rate fuel is increasing it wouldn't make any difference.
    • tifo
    • By tifo 29th Jan 11, 7:43 PM
    • 1,186 Posts
    • 262 Thanks
    tifo
    our manifesto, plus taxing bankers bonuses at 75% or so.
    Originally posted by davidjwest
    and how do you propose on getting them to repay 'our' billions they've been 'given'?
    • Nessie23
    • By Nessie23 30th Jan 11, 11:08 AM
    • 230 Posts
    • 124 Thanks
    Nessie23
    As much as I think the government should scrap the further fuel duty hike it is such a juicy money pot I doubt they will. They will probably argue that they need as much money as they can to reduce the deficit.

    However they do not seem to apply as much energy in reducing tax evasion, did I mention Vodafone, Topshop, Boots ...
    • ElkyElky
    • By ElkyElky 30th Jan 11, 11:13 AM
    • 2,422 Posts
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    ElkyElky
    As much as I think the government should scrap the further fuel duty hike it is such a juicy money pot I doubt they will. They will probably argue that they need as much money as they can to reduce the deficit.

    However they do not seem to apply as much energy in reducing tax evasion, did I mention Vodafone, Topshop, Boots ...
    Originally posted by Nessie23
    What they need to do is tax cigarettes and alcohol triple/quadruple of what it is already then lower fuel tax to compensate.
    Weve had to remove your signature. Please check the Forum Rules if youre unsure why its been removed and, if still unsure, email forumteam@moneysavingexpert.com
    • tifo
    • By tifo 30th Jan 11, 12:52 PM
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    tifo
    However they do not seem to apply as much energy in reducing tax evasion.
    Originally posted by Nessie23
    It's legal tax avoidance .... not evasion.
    • ElkyElky
    • By ElkyElky 30th Jan 11, 12:55 PM
    • 2,422 Posts
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    ElkyElky
    It's legal tax avoidance .... not evasion.
    Originally posted by tifo
    That's the problem, it shouldn't be legal at all.
    Weve had to remove your signature. Please check the Forum Rules if youre unsure why its been removed and, if still unsure, email forumteam@moneysavingexpert.com
  • Ngfprbd
    Yet we still pay road tax as well!
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