Chancellor of the Exchequer Kwasi Kwarteng unveiled a batch of new tax cuts and economic measures which the Government said will boost growth in the UK. However, not everyone was impressed as seen by the slump in the value of the pound, as well as industry experts questioning the lack of measures to help motorists.
Howard Cox, founder of FairFuelUK, commented on the “very disappointing” mini-budget and what should have been included.
He said: “Liz Truss and Kwasi Kwarteng should hang their fiscal heads in shame by not cutting fuel duty.
“Frankly this is the economics of an asylum. Their ignorance is jaw dropping.
“Low income familes, small businesses and the economy will continue to be crippled by high pump prices, punitive fuel duty levels and opportunistic profiteering in the fuel supply chain.
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There has been widespread criticism of the Government for not slashing fuel duty rates further, to match those of other European countries.
According to the RAC, Germany had taken the equivalent of 25p a litre in tax off per litre of petrol, Italy 21p, Portugal 16p, and both Ireland and the Netherlands had cut duty by nearly 15p.
Other Governments have introduced fuel discounts that take effect when motorists are paying at forecourt tills, with Spain cutting prices by about 17p a litre and France 15p.
Mr Cox said the new Prime Minister Liz Truss looks set to continue Boris Johnson’s “anti-driver policities”.
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There was also support for scrapping HS2 and net zero policies in a bid to save money and protect struggling Britons.
Mr Cox continued, saying: “Making a big cut in fuel duty would drive inflation down immediately and it could have been done by using the extra £3billion in VAT the Government has received from recent very high pump prices.
“It would have reduced the huge burden on families and businesses and also boosted tax revenue to the Exchequer from the growth in the economy that would have come as a result.
“Liz Truss ignores drivers views at her peril. Voters will leave the Tory Party in their millions.”
A larger, more formal budget announcement is set to be unveiled later this year in Kwasi Kwarteng’s Autumn Statement.