Conservatives aim to stabilise motoring costs
The Chancellor George Osborne has told the Conservative Party conference that he hopes to freeze fuel duty until May 2015 if the money is available.
Responding to the news, Professor Stephen Glaister, director of the RAC Foundation, said:
“Transport is the single biggest area of household expenditure bar none and our own research shows that 800,000 of the poorest households are in transport poverty, spending a quarter or more of their income on running a car. This proposal will be welcomed but let’s not forget that the Chancellor still takes 60% of the price of a litre of fuel in the form of taxation.”
The work on transport poverty was carried out by the Foundation earlier in 2013.
Speaking in the conference hall in Manchester the Chancellor said:
“Provided we can find the savings to pay for it, I want to freeze fuel duty for the rest of this Parliament. Conservatives don’t just talk about being on the side of hard-working people. We show it day in day out in the policies we deliver.”