Members of Parliament were unanimous in their concerns over the skyrocketing price of fuel in yesterday's Commons debate. They were, however, not unanimous over what the best possible solution would be. Labour and Conservative members traded accusations over who was to blame for the current astronomical prices.
Some of the MPs main concerns were:
- That rural motorists suffer disproportionately because they are forced to use their cars more due to a lack of public transport
- That by pushing up prices and thereby negatively affecting employment, fuel duties had a detrimental effect on economic recovery
- That high fuel taxes put the UK transport industry at a bad disadvantage because foreign trucks can fill up more cheaply outside our borders
- That speculators and oil companies were profiting at the expense of UK motorists
- That reducing the 50p top income tax rate should be delayed until fuel prices have been reduced
The government plans an increase of 3p per litre for fuel duty at the beginning of January and another 5p per litre increase in August 2012. More than a hundred Members of Parliament have so far signed a petition calling on the coalition government to reduce the burden on cash-strapped motorists who're already paying 80p in fuel taxes on every litre of fuel.
The Government argues that fuel duty has dropped as a percentage of the cost of fuel. In 2001-2003 it was a whopping 80%, but the increase in the fuel price has caused it to drop to 60% at present.
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