A petition calling for a three pence per litre cut in fuel duty has been delivered to the door of 10 Downing Street ahead of next week’s budget on 19 March.
The petition was presented by Rob Flello, Labour member for Stoke-on-Trent South and Chair of the All Party Parliamentary Group for Freight Transport.
The renewed Fair Fuel UK call is also backed by the Freight Transport Association and Road Haulage Association. It is estimated that each penny in duty costs the logistics industry £116 million a year. A three pence per litre cut in the budget would consequently save haulage firms around £350 million a year.
Fello said, “The Chancellor needs to put forward a budget which will help individuals and businesses. A cut in fuel duty would bring welcome relief to many who are struggling to with rising energy costs.
“The widespread support the Fair Fuel UK campaign has gained from businesses and the public demonstrates the strength of feeling that the issue generates. As a Member of Parliament I am going to continue to press the government to take action on this issue.
“The current fuel duty system is not sustainable and while a three pence per litre cut in duty will help people immediately, the government must take radical action to reform the system for the future.”
Research by the National Institute for Economic and Social Research and Centre for Economics and Business Research has also indicated that the wider UK economy would benefit from a duty reduction. The study shows it could generate at least 70,000 jobs, increase GDP by 0.2% and help to lower inflation.
Karen Dee, FTA Director of Policy, said, “FTA believes that the Chancellor could give the economy a real boost by reducing fuel duty by three pence per litre in the Budget, as well as easing the pressure on struggling businesses.
Research has shown that the cut in fuel duty would make an enormous difference to the ‘pockets’ of freight operators, and that the Chancellor would get his money back through higher tax receipts from increased employment and improving trade.”