Concern About Rising Fuel Prices
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02 Mar 2011
Many concerned Rother Valley residents have contacted me about the increasing cost of fuel, which is making it harder for families to make ends meet and also hurting British businesses.
The Government’s decision to increase VAT to 20% has pushed up petrol prices to their current record levels. With the recovery not yet secured this is the wrong tax at the wrong time and is hitting people hard at the petrol pump.
As we witness a time of instability and change in the Middle East and North Africa, the Chancellor George Osborne must also work with other finance ministers across the world to make sure the supply of oil keeps flowing and that oil prices are reduced – both now and in the longer-term.
Immediate action on fuel prices must be taken to ease the pressure on businesses and families who are already facing a tough year and seeing their incomes squeezed. That is why I have written to the Chancellor to ask him to look again, in the Budget, at the annual fuel duty rise due in April and to also consider introducing a fuel duty stabiliser.