Prime Minister announces fuel duty freeze
It's relief for many in our industry but is this the right decision?
The PM will be giving her Tory party address today and attempt to position the party on the side of the people by continuing to freeze fuel tax duty for the 9th consecutive year.
The decision will be a welcome one for many people in industries which include driving/cars, however the overall estimated cost of £9bn per year to the UK economy is an eye watering amount.
On the flip side to that revenue though is the increase in trade and business (or at least the lack of decline).
According to the Sun, which broke the news of the announcement last night, the move will save motorists £1.20 every time they fill up a 60 litre average tank. The Tories have released some extracts from May’s speech and, on this issue, she will say that the difference it makes to have a “little bit of money left to put away at the end of the month” isn’t “measured in pounds and pence” (which is confusing because that is exactly how most people do measure having extra money).
May will go on:It’s the joy and precious memories that a week’s holiday with the family brings. It’s the peace of mind that comes with having some savings.
Many people in towns and cities across our country, cannot take these for granted. They are the people this party exists for. They are the people for whom this party must deliver …
Some have wondered if there would be a thaw in our fuel duty freeze this year. Today I can confirm that in the budget later this month, the chancellor will freeze fuel duty again. Money in the pockets of hard working people from a Conservative government that is on their side.
One thing is for certain, most driving instructors will welcome today’s news.