Cookies on the Attwoods website

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the Attwoods website.

Explore insightful perspectives and expert advice on finance

Home |Latest news |Scrap fuel duty cut, says RAC

Latest news

Browse by category
Business News

Scrap fuel duty cut, says RAC

September 02 2024

Motoring organisation the RAC has called for a 5p cut in fuel duty to be scrapped in the upcoming Autumn Budget on 30 October.

According to the RAC, motorists in the UK are 'not gaining any benefit' and retailers have failed to pass on lower petrol and diesel prices to drivers.

Prime Minister Keir Starmer recently refused to rule out a rise in fuel duty, and warned that the Autumn Budget will be 'painful'.

The RAC suggested that average petrol prices should be reduced from 142p per litre to 136p per litre and diesel prices from 147p per litre to 139p per litre.

Simon Williams, Head of Policy at the RAC, said: 'We'd normally be against any increase in duty. But we've long been saying drivers haven't been benefitting from the current discount due to much higher-than-average retailer margins.

'As more and more EVs come on to the roads the government will need to tax drivers differently. We think replacing fuel duty with a pay-per-mile system as soon as possible is the way forward as then the only tax levied on fuel would be VAT. This would give retailers nowhere to hide.'

Here
to help

Lorem ipsum dolor sit amet, consectetur adipiscing elit.

Here to help

Please complete the form below and our expert team will be in touch.
  • Contact details

    • *
    • *
  • What services are you interested in?

    • *
  • Message

    • *
  • Which location would you like to contact?

  • Communication

    • *Indicates a required fields.At least one form of contact is required.

      By submitting this form, you agree that Attwoods can process your information in order to respond to your enquiry. For more information visit our Privacy Policy.

  • Xero Logo
  • Gold Partner Logo
  • Sage
  • QuickBooks Platinum

The practices of Attwoods are carried on by Attwoods Accountants Limited, Attwoods Business Services Limited, Attwoods (Bromsgrove) Limited. Regulated for a range of investment business activities by the Association of Chartered Certified Accountants.