fuel duty increase scrapped

[ratewhore]

http://www.timesonline.co.uk/tol/new...cle4342634.ece

Never saw that one coming eh?

[dang65]

A litre of fuel's going up by about a penny a week anyway at the moment isn't it? More probably. The extra VAT will easily compensate for the loss of the 2p fuel duty.

[ratewhore]

A litre of fuel's going up by about a penny a week anyway at the moment isn't it? More probably. The extra VAT will easily compensate for the loss of the 2p fuel duty.

Absolutely. There's a quote in the article from Captain Darling about how low the %age is in real terms. But, as you say, a %age of a larger figure provides a larger take overall.

Pity the redtop reading muppets won't see that cos they is fick innit...

[Dow Jones]

Petrol seems to go up by at least 1p/lt every week, so by the end of the year it would be nearer to the £ 1.50 mark.
When it was £ 1.18/lt , the breakdown of that was: £ 0.48 cost, £ 0.52 tax and £ 0.18 vat (17.5%), ie total tax £ 0.70 or 60% of the total price. We seem to have forgotten the fact that unlike other countries we are still a big producer of oil, some of which is exported and the increased tax from that also goes to the gov't coffers. If you take Saudi or the UAE, I am told that a gallon of petrol there costs as much a litre here, ie more than 4 times cheaper. I am not saying that it should be the same here, but David cameron's idea of the fuel tax in future being made disproportional to the price is a very good one. When the price increases, tax should decrease (total revenue still remaining the same) and v.v.

[TimberWolf]

Petrol seems to go up by at least 1p/lt every week, so by the end of the year it would be nearer to the £ 1.50 mark.
When it was £ 1.18/lt , the breakdown of that was: £ 0.48 cost, £ 0.52 tax and £ 0.18 vat (17.5%), ie total tax £ 0.70 or 60% of the total price. We seem to have forgotten the fact that unlike other countries we are still a big producer of oil, some of which is exported and the increased tax from that also goes to the gov't coffers. If you take Saudi or the UAE, I am told that a gallon of petrol there costs as much a litre here, ie more than 4 times cheaper. I am not saying that it should be the same here, but David cameron's idea of the fuel tax in future being made disproportional to the price is a very good one. When the price increases, tax should decrease (total revenue still remaining the same) and v.v.

I'd prefer petrol were taxed more personally, that way it'd mostly be a voluntary / stupidity or inversely related to willy size tax. Scrap council taxes and make petrol £10 litre!

[DimPrawn]

I have to say, I would prefer much higher consumption taxes than income taxes.

It really gets my goat that interest on savings is taxed for example.

[Troll]

http://www.timesonline.co.uk/tol/new...cle4342634.ece

Never saw that one coming eh?

Postponed

[Cyberman]

Does anybody here know the meaning of the word 'deferred' !!

[Moscow Mule]

Does anybody here know the meaning of the word 'deferred' !!

It's what a cat has to be before you eat it.

[ladymuck]

As in 'deferred success'?