Chancellor George Osborne cheered motorists in his Summer Budget with the announcement that fuel duty will be frozen this year.
He said: "I can confirm that there will be no changes to the plans for fuel duty I set out in March – fuel duty will remain frozen this year."
Summer Budget 2015: fuel duty frozen this year
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Chancellor George Osborne cheered motorists in his Summer Budget with the announcement that fuel duty will be frozen this year. He said: "I can confirm that there will be no changes to the plans for fuel duty I set out in March – fuel duty will remain frozen this year." The move means the government will receive slightly less in duty from the petrol pumps in 2015-16 compared to the previous year, with a total forecast receipt of £27.1 billion compared to £27.2 billion in 2014-15. Rumoured increases in Fuel Duty could have seen the price of fuel rise by over £5 per 50-litre tank, which would have equated to an additional annual spend of around £500 for a daily commute of 20 miles. For those travelling a further distance, this could have been a lot higher. Motoring groups therefore welcomed the move. A spokesman for the Fair Fuel UK campaign said: "FairfuelUK.com has delivered. The Chancellor has listened. Fuel prices are held. MPs tell us our lobbying and economic evidence prevented a rise in Fuel Duty. [So] a big thanks to our 1.1 million supporters." Simon Greiner, managing director at car finance group Red Potato, added: "The rising cost of living is having a major impact on thousands of people across the UK already struggling with their personal finances. A rise in fuel duty could have pushed more people into the red, particularly for commuters who rely on their cars to get to work and make a living for themselves, so I welcome Osborne's announcement. "The feared fuel duty increase would have seen many people having to make difficult decisions regarding their journeys to work, particularly for those living considerable distances from the office. Public transport, once a more cost-effective and viable option for some can be infrequent and unreliable, particularly in more rural areas. "I thank the government for looking at the bigger picture in this instance and urge them to continue to consider the British public and in particular, commuters."
Source Moneywise http://ift.tt/1fnprYD
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