The Chancellor of the Exchequer has provided his 2021 autumn Budget, with fuel task staying frozen at 57.95p per litre.
Speaking in the home of Commons, Rishi Sunak said: “With fuel costs at their greatest level in eight years, I’m not prepared to add to the capture on households as well as little businesses, so I can verify from today the organized increase in fuel task will be cancelled.”
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Fuel task has been frozen considering that 2011 as well as has been due for an boost in the past two Budgets. In March 2021, Sunak likewise spoke of a organized increase, however stated he had scrapped it in buy to “keep the expense of living low”.
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The autumn budget plan comes just days after petrol costs hit a record high of 142.94p per litre, prompting Sunak to when once again delay the increase.
Brian Madderson, chairman of the Petrol Retailers’ association (PRA), commented: “The Petrol Retailers’ association welcomes the Chancellor’s confirmation in today’s budget plan that fuel task will continue to be frozen for a additionally 12 months. This will be the 12th year in a row that this tax has been unchanged.”
He added: “With pump costs at an eight-year high, PRA has been lobbying government as well as the Treasury, in specific outlining the potentially damaging impacts on the economic climate as well as home budgets of even an inflation-linked rise, so it is positive to hear the Chancellor’s commitment.”
While campaign group FairFuelUK stated it “warmly welcomes” the freeze, creator Howard Cox declared it was “an chance missed, too”.
He said: “With pump costs at their greatest ever, indicating the Treasury is wallowing in a £1billion unforeseen windfall, it was a time for the government to have cut fuel task significantly.”
There were no other motoring announcements in Sunak’s Budget, in spite of continuous discussions at the deliver committee about the possibility of a road pricing system as a replacement for existing automobile excise duty.
Check out the government’s plans on road pricing here…