Should the Government Increase Fuel Duty?

MP’s are planning to meet and vote on plans to increase fuel duty by 3 pence per litre in January, hopefully they will vote to postpone this increase for the second time.

Petrol Pump

Should we have to face yet another increase in tax to help the Government claw back some of the budget deficit? The money will have to come from somewhere but hitting us with another tax rise when the price of everything seems to be soaring is a little offside, especially when the likes of Amazon, Starbucks, Google and Facebook and avoiding massive sums of tax every year.

Question

Now more than ever the cost of fuel is a big consideration for each trip we take. Planning a weekend away seems great until that cheap deal on the South Coast turns out to cost a small fortune when you add on the fuel bill. But it’s a very easy way for the Government to help ease the deficit as everyone needs to buy fuel.

  • Businesses need fuel in their vehicles
  • Employees need fuel to be able to get to work
  • Public transport needs fuel in order to function
Money Bag

We already pay one of the highest rates of tax on fuel in Europe, surely it would help put the Government in a better light if they helped out the tax payer by giving us a break? Over the last 5 years the average price per litre of petrol has risen from 95.3p to 139.6p. Around 60% of the price we pay at the pump is tax (duty and VAT) and only about 3% of the price goes directly to the retailer.

Whilst 60% is still a  lot to pay in tax, it has actually decreased over the last decade from 77% tax.

With the price of everything increasing and wages not moving we cannot take another tax rise, maybe the Government will give in and look to get the tax from people and companies who are deliberately avoiding paying tax.

What do you think; should we have to face another rise in fuel duty?

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