David Vance SubstackRead More
So Keir Starmer holds a. a roundtable meeting in No10 with top bosses from the insurance, oil, gas and shipping sectors as the Middle East crisis entered a fifth week.
‘This is going to have to be a joint effort,’ Sir Keir told them.
Why is it going to be a joint effort?
This Government could act RIGHT now and ease the pain that so many motorists are feeling. All it would take is to follow the example of the Italian Government which has introduced a 25 cent fuel duty reduction of petrol and diesel. Or the Irish government which has agreed a temporary cut of 20c per litre on diesel and 15c per litre on petrol, with the measures due to run until the end of May. These are simple and practical measures that Reeves could emulate but she chooses not to. Why? It’s because she is price gouging us!
The Exchequer takes a FIXED 53p Fuel Duty per litre and then on top of that takes VAT currently around worth 25p per litre. So the more base petrol/diesel prices rise, the more the Chancellor benefits. She is the price gouger.
I was talking to my daughter today, a young mum of two, and she was telling me she’s just filled her (diesel) car up. She said it normally takes around £60 but today it cost £90. So many young people will be a similar situation. They struggle but the Government projects responsibility onto everyone but itself.
Here is what fuel prices WOULD be like if Government did not intrude.
Fuel duty is expected to raise about £24 billion in 2025–26 for this government. That is about 1.9% of all receipts and roughly £835 per household.
Giving us all a break from this tax punishment for a few weeks SHOULD be the reaction of a decent Government but the vampires that infest Whitehall are actually sucking us dry whilst feigning concern.
