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The mkiv Supra Owners Club

Budget


wallace9

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Fuel duty to be cut by 1p per litre from 1800 GMT

 

Planned inflation rise in fuel duty due in April to be delayed until 2012

 

Annual 1p above inflation "fuel escalator" rise scrapped until 2015

 

Measures to be paid for by £2bn extra taxes on North Sea oil firms

 

VAT on fuel will not be reduced

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I was expecting fuel to get hammered again.

Quite surprised

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Heard on the radio that they are cutting fuel duty but increasing the fuel VAT by 3p. Not seen the budget but is there any truth to this?

 

No? VAT increased when it went from 17.5 to 20%, they can't change the VAT just for fuel, it's 'illegal'. Maybe they meant measures taken previously with VAT had already added 3p to the price?

 

I liked this budget, specifically the corporation tax decrease, should make Britain more competitive. 'Britain is open for business' :)

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