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fuel duty increase scrapped
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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. -
Originally posted by dang65 View PostA 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.
Pity the redtop reading muppets won't see that cos they is fick innit...Older and ...well, just older!!Comment
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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
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Originally posted by Dow Jones View PostPetrol 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
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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.Comment
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Originally posted by ratewhore View PostHow fortunate for governments that the people they administer don't thinkComment
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Originally posted by Cyberman View PostDoes anybody here know the meaning of the word 'deferred' !!"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
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