Relief as fuel duty cut 1p
Cash-strapped motorists finally received some good news as Chancellor George Osborne scrapped plans to raise fuel duty next month.
Making the announcement during today’s Budget, he also announced that fuel duty would instead be cut by 1p, effective from 6pm this evening.
For months, pressure had been mounting for the Government to act on spiralling pump prices and although many will argue drivers and businesses shouldn’t have suffered for so long in the first place, the decision is sure to come as a positive step that will encourage economy recovery.
Richard Lawton, Spokesperson for FleetDirectory.co.uk, said: “The reduction in fuel duty will benefit everyone, from all those working in the haulage industry to families running ordinary cars like a Ford Focus as George Osborne mentioned.
“The increase in Approved Mileage Payments is also welcome even if it still ignores the true cost of running a car. This makes it easier for businesses to recognise and reimburse staff for the work they undertake using their own cars.
“It is still going to be a tough year for businesses and for their employees but at least there has been some recognition of the challenges facing all of us.”
John Lewis, Chief Exec of British Vehicle Rental and Leasing Association, added: “Whether you are a haulier, a fleet manager, a commuter or a just someone trying to keep your family car on the road, this imaginative tax measure will have an instant impact on your weekly cash flow. For many, it will be more important than all the other tax announcements put together.”
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