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Friday, March 07, 2008

Pouring fuel on the fire

The Daily Telegraph reports that motorists could be paying £5 a gallon for petrol within weeks if the Chancellor implements the 2.35 pence a litre rise fuel duty in the Budget. We are told that the Treasury has enjoyed a £4 billion windfall over the past 12 months, largely thanks to the extra tax it has been able to raise in Petroleum Revenue Duty from the North Sea and VAT which rises along with the cost of oil.

Despite this the volume of traffic on our roads continues to grow as does daily traffic congestion. Perhaps some of this extra revenue should be spent on beefing up public transport alternatives so that people have a real choice in their method of travel.
The extra money will have to go towards lining the gaping hole in government finances.
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