Time fot Osborne's Fuel Stabiliser
Discussion
Come on then George. This was one of many things I voted for. You've talked the talk since 2008, now it's time to walk the walk as Chancellor.
Hurry up though...
"Petrol Prices Could Soon Hit Record High"
http://news.sky.com/skynews/Home/Business/Petrol-P...
Hurry up though...
"Petrol Prices Could Soon Hit Record High"
http://news.sky.com/skynews/Home/Business/Petrol-P...
Page 36 of the budget report:
Fair fuel stabiliser
1.121 The Chancellor has asked the Office for Budget Responsibility to undertake an assessment over the summer of the effect of oil price fluctuations on the public finances. Informed by this assessment, the Government will examine options for the design of a fair fuel stabiliser.
It won't happen this year.
Fair fuel stabiliser
1.121 The Chancellor has asked the Office for Budget Responsibility to undertake an assessment over the summer of the effect of oil price fluctuations on the public finances. Informed by this assessment, the Government will examine options for the design of a fair fuel stabiliser.
It won't happen this year.
Price control is communist.
A pointless waste of time and money.
If you want a fuel stabiliser buy a Smart car or an electric car.
All it does is transfer the cost of the individuals motoring to the taxpayer with the added overhead of loads of mentally retarded admin staff jerking off over pictures of Stalin.
A pointless waste of time and money.
If you want a fuel stabiliser buy a Smart car or an electric car.
All it does is transfer the cost of the individuals motoring to the taxpayer with the added overhead of loads of mentally retarded admin staff jerking off over pictures of Stalin.
The fuel stabiliser won't fix the price of petrol or diesel all it will do is fix the amount of tax the Government receives for every litre of fuel sold.
For example, the fuel element (i.e. excluding duty and VAT) of a litre of petrol is roughly 42p if it increases by 10% to 46p then we pay the extra 4p plus an extra 1p in additional VAT. With a fuel stabiliser we will only pay an extra 4p. However, if the price of oil were to fall then the full saving would not be passed to motorists as lower price results in less tax - the tax would have to increase to compensate.
For example, the fuel element (i.e. excluding duty and VAT) of a litre of petrol is roughly 42p if it increases by 10% to 46p then we pay the extra 4p plus an extra 1p in additional VAT. With a fuel stabiliser we will only pay an extra 4p. However, if the price of oil were to fall then the full saving would not be passed to motorists as lower price results in less tax - the tax would have to increase to compensate.
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