Earlier this month Prime Minister David Cameron said on Radio 4 that he was convinced that the government would find the money to extend the current fuel freeze until beyond the 2015 general election.
Just one day previously at the Conservative Party conference the Chancellor of the Exchequer George Osborne said that if the two pence per litre fuel rise planned for next September were to be cancelled it would allow the British people to better feel the benefits of the economic upturn.
But is this move sufficient? Many people argue that rather than continuing to simply freeze the price of fuel duty the price should instead be cut, after all our fuel duty is the highest in the EU by a long shot.
A reduction in fuel duty would ease the pressure on domestic freight activity whilst stimulating economic growth through consumer demand.
Jack Semple from the Road Haulage Association said “Haulage firms will take on board the Chancellor’s pledge not to increase on this tax on the UK supply chain and will develop their business plans accordingly.
“We should remember that UK fuel duty is still by far the highest anywhere in the EU. The Chancellor should take the bold step to cut duty, which, as has been demonstrated by independent research commissioned by the RHA for the FairFuelUK campaign, would boost growth and create jobs.”