Wednesday, March 23, 2011

UK Budget Latest - Haulage Operators And Freight And Logistics Groups Cheered By Fuel Duty News

Osborne Acts After Pleas from Carriers
Shipping News Feature

UK- The Chancellor announced today he would avoid ‘illegal’ changes but cut fuel duty by one pence per litre and cast his eye on the oil producers concluding a Fair Fuel Stabiliser was the way to keep diesel prices lower. The fuel duty escalator will be abolished and duty will be in line with barrel prices. Freight and Logistics groups will no doubt welcome the news.

All future prices will hang on barrel prices, if the price rises, then the oil producers will pay extra taxes to compensate. All future fuel escalators are abolished forthwith. The news is sure to cheer industry groups and speaks volumes for the force of industry opinion having been galvanised by the FaiFuel UK campaign, backed by the Road Haulage Association (RHA) and Freight Transport Association (FTA) which we have covered in some depth.