The UK may have been free from the tyranny of Gormless Gordon for several months now, but his legacy of bloody crazy fuel prices (largely down to his extortionate taxes, remember) lives on.
The latest figure I have of £1.30 a litre apparently works out at:
£0.50 for the liquid that goes inside your car’s fuel tank
£0.80 in taxes on the fuel to the beancounters in the Treasury.
The taxes (both of them) being “Fuel Duty“, and then “V.A.T” on top of that – double taxing in other words (isn’t that supposed to be illegal? I’m sure I’ve heard several people mention it is).
Back in the summer when Osborne & Cleggy were running online consultations asking us normal folks for ideas, I threw this suggestion of a fairer way to tax fuel into the ring……….
1) Abolish fuel duty on the fuel
2) Abolish V.A.T on the fuel & the fuel duty tax
3) Replace the 2 with a more transparent single tax, and call it “Fuel Sales Tax” (or F.S.T for short) – basically the same idea as V.A.T but with a different name & set at a rate specially for fuel – say 25 to 65% – depending on what the beancounters working out the figures deem necessary.
For starters whenever people complain on forums & blogs about the price of fuel they claim anything from 60 – 80% of the price of fuel is the tax on the damn stuff, and my idea would at least provide a definitive answer.
Other recent articles elsewhere on fuel prices:
Small businesses call for George Osborne to honour pledge on fair fuel prices (ConHome)
Understanding the price stabilising fuel duty (ConHome)
£1.30 a litre – more than 80p for the government (John Redwood)
Greedy Left-wing Union morons plan fuel strikes (Daily Mail)
Petrol stations beef-up security in fear higher fuel prices mean higher numbers of fuel thefts (Daily Mail)
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