SootySport Posted January 13, 2015 Share Posted January 13, 2015 So fuel has dropped by about 25p. per litre recently. As this forum is Stuff & NONSENSE here's my proposal- The treasury should up the duty on petrol and diesel by 25p. The revenue raised could go towards reducing the national debt and would make quite a big dent in the PBR. We all had got used to fuel costing 140p per litre last year and was steadily rising so who is going to complain if we raise the price back up again to last years levels. By the way these reductions are all due to the USA upping production of ready for the pump refined fuels, what's going on? The only reason I can think of, is the Americans are trying to destabalize the Russian government as they are heavily reliant on exporting Gas & oil. Quote Link to comment Share on other sites More sharing options...
darve Posted January 13, 2015 Share Posted January 13, 2015 would the duty be tapered off so that consumers aren't burdened when oil prices go back up? but then again.... I'm sure most of us would continue to buy petrol at £2 a litre.... Quote Link to comment Share on other sites More sharing options...
blue ass fly Posted January 13, 2015 Share Posted January 13, 2015 If i was convinced it would be used to get the countrys debt sorted ide be up for it Sadly i think it would probably end up being spent on other things that dont benefit us Quote Link to comment Share on other sites More sharing options...
Dommo Posted January 13, 2015 Share Posted January 13, 2015 The price drops started the second I signed the order for an electric car, putting my daily driver V8 onto tip run and Westfield towing duties... I feel that was a significant enough drop in demand to cause all this and you should all be grateful 1 Quote Link to comment Share on other sites More sharing options...
SootySport Posted January 13, 2015 Author Share Posted January 13, 2015 If i was convinced it would be used to get the countrys debt sorted ide be up for it Sadly i think it would probably end up being spent on other things that dont benefit us See what you mean there, like Hospitals, Schools & the NHS. would the duty be tapered off so that consumers aren't burdened when oil prices go back up? but then again.... I'm sure most of us would continue to buy petrol at £2 a litre.... That's the idea, so pump prices are around the 140p mark. Quote Link to comment Share on other sites More sharing options...
Lawrie Posted January 13, 2015 Share Posted January 13, 2015 Can't we just enjoy cheap petrol for a bit. Didn't the government cancel one duty rise about 4 years ago? They've missed a trick to reverse that, but then there's an election in a few months, so no taxes are going up till immediately afterwards Quote Link to comment Share on other sites More sharing options...
pistonbroke Posted January 13, 2015 Share Posted January 13, 2015 I think we pay more than enough fuel tax as it is . here's my proposal , we get all the big fat bankers , politicians and other sods who have raped us for the past millenium , make them pay back there ill gotten gains into the treasury and pay the nat debt off that way. Or we just say stuff the debt like Brazil, Greece , and a few others have done because we cant afford it , so sod off 2 Quote Link to comment Share on other sites More sharing options...
Stuart Posted January 13, 2015 Share Posted January 13, 2015 Mate of mine lives in Venezuela. Place is a hell-hole and you can't buy household basics, but petrol is 0.26p per litre at the moment he tells me. Not 26p but 0.26p. 380 litres for a quid. Government subsidised I believe. Quote Link to comment Share on other sites More sharing options...
blue ass fly Posted January 13, 2015 Share Posted January 13, 2015 blue ass fly, on 13 Jan 2015 - 1:01 PM, said: If i was convinced it would be used to get the countrys debt sorted ide be up for it Sadly i think it would probably end up being spent on other things that dont benefit us "See what you mean there, like Hospitals, Schools & the NHS." Nope I meant scroungers Quote Link to comment Share on other sites More sharing options...
Nick Algar - Competition Secretary Posted January 13, 2015 Share Posted January 13, 2015 We had the highest priced Petrol & Diesel in the EU. So it's nice to see if drop a bit, even though we are probably still the highest priced Quote Link to comment Share on other sites More sharing options...
windy Posted January 13, 2015 Share Posted January 13, 2015 Tax revenue from fuel is fairly insignificant these days considering the majority of us are using very efficient vehicles for everyday transport and hence using much less fuel. Quote Link to comment Share on other sites More sharing options...
XTR2Turbo Posted January 13, 2015 Share Posted January 13, 2015 It's 1.7% of GDP or about £31bn so still pretty significant. It is VED that is dropping rapidly but that is only about 1/4 of fuel revenues already Quote Link to comment Share on other sites More sharing options...
Arm Posted January 13, 2015 Share Posted January 13, 2015 Low fuel prices are more likely to stimulate spend elsewhere including travel. Remember how one trigger of the last recession started with speculation on the price of crude and a subsequent crash in everything else. Would be a foolish chancellor to raise taxes when the economy needs more stimulation, plus a tax hike before an election would be suicide. Fuel duty and fuel price was at a level that was hurting everyone, it had found an upper boundary and we dont want to get back to that. However I said a sensible chancellor. Now if you were thinking of not getting back into power it would make and argument to stiff the next government. No raising fuel tax would not help anyone. Reducing costs on welfare and hospitals is the drain and it will at some point get cut. We will feel pain there instead. Quote Link to comment Share on other sites More sharing options...
jeff oakley Posted January 13, 2015 Share Posted January 13, 2015 If it drops for longer then I think they would consider raising the tax on fuel, after the election of course. What I want to know is why my tax for the fuel that goes in the company car has not dropped. It is taxed as a rate that is set dependant upon the fuel cost, this has dropped but my tax is not going to change. The answer to our financial woes is simple, but politically hard. We stop wasting money. If every government department head was told he could keep 10% of all savings made, so long as performance is not affected, you would see an end to the waste inside two years. A friend was told to go and spend money in a council, as they would get a cut otherwise. He was going around trying to get people to have new IT just to use it up, before the year end. If they really wanted to cut the deficit, easiest is to put a penny on income tax and cut the overseas budget by half for a few years, people would accept that. The other thing is to sack anyone who works in the public sector who has any title that involves diversity, or Eco, or Green or my favourite that was an NHS position, cycling to work coordinator! 1 Quote Link to comment Share on other sites More sharing options...
pistonbroke Posted January 13, 2015 Share Posted January 13, 2015 The last time I was in hospital I had to have some Xrays , because of cuts they did not have enough NHS radiologist available to cope with demand . The Dr who did mine was hired in privately, he was Swedish and told me he commuted from home every time he was needed at god knows how much cost to the NHS . Yet some management " team " would have got a pat on the back for cutting down on staff and saving on the NHS wages bill . The Swede would probbly have cosyt more than the cuts were worth but been paid under misc. expenses or some other invented department so looks good on paper . My wife is an Ex schoolteacher , they had the same scenario when staff went sick , no cover due to cuts so outside help had to be hired in . Quote Link to comment Share on other sites More sharing options...
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