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fuel duty increase scrapped

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    fuel duty increase scrapped

    http://www.timesonline.co.uk/tol/new...cle4342634.ece

    Never saw that one coming eh?
    Older and ...well, just older!!

    #2
    A litre of fuel's going up by about a penny a week anyway at the moment isn't it? More probably. The extra VAT will easily compensate for the loss of the 2p fuel duty.

    Comment


      #3
      Originally posted by dang65 View Post
      A litre of fuel's going up by about a penny a week anyway at the moment isn't it? More probably. The extra VAT will easily compensate for the loss of the 2p fuel duty.
      Absolutely. There's a quote in the article from Captain Darling about how low the %age is in real terms. But, as you say, a %age of a larger figure provides a larger take overall.

      Pity the redtop reading muppets won't see that cos they is fick innit...
      Older and ...well, just older!!

      Comment


        #4
        Petrol seems to go up by at least 1p/lt every week, so by the end of the year it would be nearer to the £ 1.50 mark.
        When it was £ 1.18/lt , the breakdown of that was: £ 0.48 cost, £ 0.52 tax and £ 0.18 vat (17.5%), ie total tax £ 0.70 or 60% of the total price. We seem to have forgotten the fact that unlike other countries we are still a big producer of oil, some of which is exported and the increased tax from that also goes to the gov't coffers. If you take Saudi or the UAE, I am told that a gallon of petrol there costs as much a litre here, ie more than 4 times cheaper. I am not saying that it should be the same here, but David cameron's idea of the fuel tax in future being made disproportional to the price is a very good one. When the price increases, tax should decrease (total revenue still remaining the same) and v.v.

        Comment


          #5
          Originally posted by Dow Jones View Post
          Petrol seems to go up by at least 1p/lt every week, so by the end of the year it would be nearer to the £ 1.50 mark.
          When it was £ 1.18/lt , the breakdown of that was: £ 0.48 cost, £ 0.52 tax and £ 0.18 vat (17.5%), ie total tax £ 0.70 or 60% of the total price. We seem to have forgotten the fact that unlike other countries we are still a big producer of oil, some of which is exported and the increased tax from that also goes to the gov't coffers. If you take Saudi or the UAE, I am told that a gallon of petrol there costs as much a litre here, ie more than 4 times cheaper. I am not saying that it should be the same here, but David cameron's idea of the fuel tax in future being made disproportional to the price is a very good one. When the price increases, tax should decrease (total revenue still remaining the same) and v.v.
          I'd prefer petrol were taxed more personally, that way it'd mostly be a voluntary / stupidity or inversely related to willy size tax. Scrap council taxes and make petrol £10 litre!

          Comment


            #6
            I have to say, I would prefer much higher consumption taxes than income taxes.

            It really gets my goat that interest on savings is taxed for example.

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              #7
              Originally posted by ratewhore View Post
              Postponed
              How fortunate for governments that the people they administer don't think

              Comment


                #8
                Does anybody here know the meaning of the word 'deferred' !!

                Comment


                  #9
                  Originally posted by Cyberman View Post
                  Does anybody here know the meaning of the word 'deferred' !!
                  It's what a cat has to be before you eat it.
                  ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

                  Comment


                    #10
                    As in 'deferred success'?

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