Friday 18 November 2022

Fuel Duty - 23% Increase!

In perhaps one of the more unexpected developments in yesterday's 'Fiscal Incident' the Fuel Duty Escalator has returned!

Surprisingly the Chancellor elected not to bellow the 23% rise in Fuel Duty in his Common's statement, which looks like it will add 12p to the price of a litre of fuel from March next year.

According to the OBR this will net the Treasury £6bn a year.

Not a number to be sniffed at and potentially a source of good news for both passenger and freight operators.

Of course it is highly unlikely that the Chief Striver Soaker, Jeremy Hunt, will fold on this decision, once the Mail declares it a War on the Motorist.

Unlike say, every other Chancellor since 2011.