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Fuel Duty freeze maintained, as chancellor turns back on calls for a cut in the Budget

  • 19 March 2014
  • By Chris Druce

The chancellor George Osborne has opted to maintain the fuel duty freeze rather than introduce a cut in the Budget today,

It means, as outlined in the Autumn Statement last year, that fuel duty will have been frozen for the length of the current parliament.

It comes despite FairFuelUK delivering a letter last week with support from campaign backers and MPs alike, calling for a 3ppl cut in fuel duty to secure the recovery and stimulate the economy further.

FairFuelUK tweeted: “Massive disappointment @hmtreasury still don’t get it. Cutting duty will help the growth of the UK. Our campaign goes on to convince them.”

Other Budget 2014 highlights:

  • The Office for Budget Responsibility (OBR) has revised up its forecast for GDP growth from 2.4% to 2.7% in 2014 and from 2.2% to 2.3% in 2015, and forecasts GDP growth of 2.6% in 2016, 2.6% in 2017 and 2.5% in 2018. It expects GDP to return to its pre-crisis peak in the third quarter of 2014.
  • The chancellor had made £200m available to local councils to bid for to fix the UK’s many potholes following the winter.
  • The OBR has revised down its forecast for unemployment in all years, and expects a rate
    of 6.8% in 2014, falling to 5.4% in 2018. It has revised up its forecast for employment, and
    expects it to rise by one million over the forecast period from 30.4 million in 2014 to 31.4 million
    in 2018.
  • Infrastructure: Over 1,900 infrastructure projects completed since 2010, including over 550 road and rail
    projects. Between 2011 and 2013, average annual public and private infrastructure investment was
    around £45bn.
  • £270m guarantee for the Mersey Gateway Bridge.
  • Increasing the discount for ultra low emission vehicles.

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Article source: http://www.commercialmotor.com:80/latest-news/fuel-duty-freeze-maintained