BUDGET HELPS MOTORISTS AND PETROL RETAILERS

Published 20/03/2013 00:00:00 in Press Releases

The Petrol Retailers’ Association (PRA) represents 5,500 independent forecourt retailers.


PRA Autumn Statement Comment

Brian Madderson, PRA Chairman


FUEL DUTY


The Petrol Retailers’ Association welcomes the Government’s decision to cancel the fuel duty increase due 1 September.


Taking into account the projection of RPI% in the first quarter of 2014, combined with the current 20% VAT rate, this action will save the motorist up to 3ppl. This could even stem the continuing decline in overall retail fuel volumes, which according to last year’s Government statistics dropped by 2.9% compared to 2011.  


However with the Treasury benefiting from the tax windfall of higher VAT over the last two years on ever rising fuel prices, independent retailers had wanted this windfall to be used to cut fuel duty in this Budget. This was a view shared by many motoring organisations and trade bodies.


It is clear that high fuel prices are a significant factor in the upward trend for inflation. They continue to take money out of consumers’ pockets thus weakening their spending power and stifle economic growth particularly for SME’s. The Chancellor has missed a golden opportunity to start correcting the penal 60% tax on retail road fuels.


ENDS


NOTES TO EDITORS:


The Petrol Retail Association represents some 5,500 independent forecourts which is 60% of the total UK market. A trade association committed to helping members run their businesses legally and profitably adapting to new challenges in the market place.


Keely Scanlan, Press Officer

Tel: 020 7307 3410

Mob: 07825097697

Press Office direct line: 020 7307 3422   

Press Office fax: 020 7307 3406


Web: www.rmif.co.uk       Email: keely.scanlan@rmif.co.uk

The Retail Motor Industry represents the interests of operators in England, Scotland, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses.  

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