The Prime Minister Theresa May soon announce- saying the government is “ on the side” of “ hard-working families”. She said in the Conservative conference that “they are the people for whom this party must deliver”. She further says that a car is a necessity “ not a luxury” for millions of people.
Chancellor Philip Hammond said over the Petrol price issue that “ policy saved drivers money, but would cost the Treasury £ 38bn if it continued for another three years.
Instant Duty of fuel
- Fuel-currently Tax 57.95p per liter of petrol, diesel, biodiesel, and bioethanol
- 20% of VAT also charged on most fuel
- Can be expected to raise £28.2bn for the government in 2018-2019.
However, the Green Party has criticized the previous amount of fuel pricing by saying that the extra money could be spent on public transport, walking, and cycling. On the other end, Edmund King AA president said that the freeze would bring relief to millions of UK drivers and business. He added, “the high pump prices are already forcing many families to cut back on a journey, household expenditure or both”. He added, “ the high pump prices are already forcing many families to cut back on journeys, household expenditure or both.”
The survey of the RAC Foundation revealed that 61% of the price of petrol nearly 60% of the price of diesel is taxation.
By declaring Britain’s post-Brexit future Mrs. May will close the conservative conference and vowing “ the best days lie ahead of us”. Confirming the duty of fuel she added that it has a “ little bit of money left to put away at the end of the month” and can’t be measured in pounds and pence”