Cut In VAT Would Help Motorists
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13 Mar 2012
At a time when families, pensioners and businesses are being squeezed by higher food prices and rising gas and electricity bills, it is now clear that the Government’s decision to increase VAT to 20% last January was a serious mistake, as it also pushed up the price of filling up cars.
Last week saw a mass lobby of Parliament on fuel prices, calling for help to ease the pressure on hard-pressed families’ finances.
Yet there is little evidence of action from the Government to bring down petrol prices, or the ‘fair fuel stabiliser’ promised in last year's Budget. In fact the Chancellor has indicated that he will press ahead with fuel duty increases later this year.
I would like to see a temporary cut in VAT, which would give immediate relief to motorists by taking nearly 3p off the price of a litre of petrol and help jump-start our stalled economy.