Autumn Statement reaction: Fuel duty

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Autumn Statement reaction: Fuel duty

RAC chief engineer David Bizley said: “Motorists may be relieved that the Chancellor has not used low fuel prices as an immediate opportunity to raise duty on petrol and diesel to help reduce the deficit.

“But by not mentioning fuel duty in his Autumn Statement, the implication is that the 57.95p charged on every litre currently will be subject to inflationary increases in line with RPI from April 2016 onwards.

“This will go down like a lead balloon with motorists who have been benefitting from lower pump prices as oil prices have fallen. It also goes completely against the Treasury’s own findings that lower fuel prices are good for the economy and an extremely inefficient way of raising additional taxation revenues for the Treasury.

“Motorists already pay £26bn in fuel duty per year so any increase to this tax on petrol and diesel will be hugely disappointing and a backward step which will prove damaging to the economy in the longer term.”

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