TREASURY CONFIRMS FUEL DUTY REMAINS STATIC FOR THE CURRENT FISCAL YEAR

Published 25/11/2015 00:00:00 in Press Releases

There were concerns raised that the Chancellor would take the opportunity to raise fuel duty by 1 or 2ppl which would have provided almost £1 billion extra revenue for the Treasury over the next 12 months.

There was also speculation that he might increase the tax on diesel vehicles in an attempt to drive companies and motorists away from diesel vehicles in the wake of the recent emissions scandal.

Brian Madderson, Chairman of the Petrol Retailers Association (PRA), today received confirmation from the Treasury that fuel duty will remain at 57.95ppl on both grades until 31 March 2016 as announced in the Spring Budget.

He commented, “This is reassuring for motorists and businesses that are leading our economic revival.  Road fuel volumes increased by over 1.1% for the first half of 2015 compared to last year, and so the Chancellor is obtaining extra revenue of £300 million a year to help with funding in other areas.

“The Treasury monitors fuel taxation, usage and duty levels on a regular basis so we have to wait until next year’s Spring Budget for the next announcement on duty”.

 

ENDS

NOTES TO EDITORS:

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

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