Chancellor facing backlash after substantial rise in fuel duty set for early 2023

Chancellor facing backlash after substantial rise in fuel duty set for early 2023

Following yesterday’s Autumn Budget, the Office for Budget Responsibility (OBR) November report has revealed that fuel duty might rise by 12p a litre.

car fueling min

The Chancellor Jeremy Hunt made no mention of fuel duty in yesterday’s announcement, but OBR expect fuel duty to increase by 23% next year.

Currently, fuel duty stands at 52.95p per litre for petrol and diesel, following the 5p reduction back in the Spring Budget, by then Chancellor Rishi Sunak.

Should the Government go ahead with the rise in price, then it would add £5.7bn to the Government’s budget to aid in the recovery of the economy.

The OBR stated: “This would be a record increase, and the first time any government has raised fuel duty rates in cash terms since 1 January 2011.”

 

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Although there has been a public outcry following news that fuel costs could rise rapidly again next year, The Treasury has insisted that no final decision has been made, and an official announcement would be made at next year’s Autumn Budget.

“The OBR expects to see 12p added to a litre of fuel, as a result of the current 5p duty cut coming to an end combined with its scheduled rise – something that’s not been seen for over a decade due to duty being frozen in successive Budgets.

“The Government has always made a big deal of cancelling duty rises in the past and will face colossal pressure to do the same next year – after all, a rise of these proportions would heap yet more misery on the millions of households that depend on their vehicles, most of whom will just endured one of the costliest winters on record.

“Instead, we urge the Government to focus on giving serious thought to developing a fair taxation system that can eventually replace fuel duty, which is effectively on borrowed time given the numbers of zero-emission vehicles on the roads that pay no fuel duty whatsoever.

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J.P. Brown
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J.P. Brown
June 13, 2023 4:59 pm

Here we go again. They can never get enough of our money. Sheezus

Monica
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Monica
June 16, 2023 2:13 pm

Everything’s getting more and more expensive. Where are we going this way?

Mary Stevenson
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Mary Stevenson
July 4, 2023 10:43 am

If you had an electric car it would not be a problem

Barbie
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Barbie
July 14, 2023 5:44 pm

Anything is possible

DENIS
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DENIS
July 20, 2023 3:14 pm

cool

DEDE
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DEDE
July 21, 2023 9:02 am

VERY GOOD

VIYIN
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VIYIN
July 21, 2023 9:51 am

COOL

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