There is hope...
news.bbc.co.uk/2/hi/uk_news/politics/7291016.stm
Chancellor Alistair Darling will delay a 2p rise in fuel duty for six months in the Budget, the BBC has learned.
The rise, announced in last year's Budget, had been due to come into effect on 1 April but will be postponed due to soaring crude oil prices.
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Not sure - the Treasury has got the perfect storm to face right now and whilst I think most of the pain will be felt in changes to business tax, the temptation of taking a billion or two from the motorist must be awfully appealing when a general election is some way off.
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Well, the tax increase has been catered for by the other taxes on the rising oil price anyway - a big drum roll anouncing a cancelled or deferred fuel tax escalator increase, may win valuable local election brownie points. OTOH, the proposed or mooted 2p(?) levy increase may get through as being mere background noise in relation to recent rises in crude prices & accepted without rancour by a punch-drunk electorate.
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its only a delay... Darling has already covered his losses with all the extra VAT he has gained just through the sharp increases at the pumps over the last 6 months
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It's good news that the increase won't happen now, but is the crude oil price really going to be any lower in 6 months?
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Crude oil price has increased by about 9% this month alone. No need for Mr Darling to add any more taxes, his VAT coffers will swell as a result. Diesel now £1.12 around us, I expect £1.20 will arrive very quickly.
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I think we can thank the Y2k fuel protests for this one. They know there is a limit and they do not want to risk a repeat.
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They don't need to put the 2p hike on.... Oil has hit a record high again today at $110 a barrel so they'll get the 2p anyway in around 2 weeks. I suppose it's better than 4p in total if the rise would have come into effect, but rest assured the government ain't doing the motorist any favours here. When the dust has settled we'll still be paying more either way. It would be nice if Mr Darling lopped 2p off!!
Lee
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They don't need to put the 2p hike on....
Just been announced that he hasn't. Well not until October anyway.
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i went to the local supermarket petrol station today and they've already added 2p since yesterday. i suppose they are trying to hide their increase in with any budget increase.
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Happens every time. Govt adds a couple of pence and the retailer adds another couple.
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