Wednesday, 16 July 2008

About turn on fuel duty

So the latest U turn comes as the government announces that the planned 2p rise in fuel duty will now be abandoned.
Should we be surprised? Probably not but what will this due to the already beleagured public revenues.

Vince Cable believes that it will leave a hole of around £1b arguing that they should be

looking in the autumn at what's happening to oil prices, what's happening with government revenue and making considered decision then".


However not so as it seems that the revenue from higher oil prices will more than offset the loss of income.

Connect the words Glasgow East and Fuel duty

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