TaxCorporate TaxAnger over Treasury’s £3bn fuel tax windfall

Anger over Treasury's £3bn fuel tax windfall

Farmers and road hauliers threaten blockades if fuel duty rises are not suspended

Gordon Brown has been warned that if he fails to suspend hikes in fuel duty
the country will face mass road blockages from farmers and road hauliers.

Anger is brewing over the fact that rising oil prices mean that the
government will net a £3bn windfall from planned increases in fuel duty tax.

Despite the soaring oil price government has pushed through a 2p rise in fuel
duty this month, a second 2p rise in April and a further increase in 2009,
the Daily Telegraph reports.

According to Grant Thornton the rise in North Sea oil prices should generate
£3bn for the government, which should allow it to comfortably fund a 6p fuel
duty cut.

Farmers and transporters are planning to load the pressure on Brown to cut
put the duty rises on ice.

Further reading:

No Budget tax cut for oil and gas
companies

Think tank calls for oil windfall tax

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