Drivers are almost certainly set to be hit in the wallet after a £3 billion hole was discovered in George Osborne’s spending plans, warns Paul Nuttall MEP.
The independent think tank, the Institute for Fiscal Studies (IFS), has found a gaping £3 billion black hole in Osborne’s spending plans. The IFS says the most likely way for Mr Osborne to fill that gap would be to increase fuel duty – despite the Tories’ 2015 general election manifesto promising not to do that.
Mr Nuttall, MEP for the North West and Ukip deputy leader, said: “As normal, the greedy eyes of Number 11 Downing Street have got motorists in their sights
“To take drivers to the cleaners again will involve some of the sleight-of-hand sorcery once the hallmark of another tricky Treasury boss – Gordon Brown.
“What Mr Osborne will most likely have to do now is introduce an inflation-based rise instead, after which he’ll claim duty is still technically ‘frozen’ and then stick his fingers in his ears while singing ‘la la la’.”
Jill Seymour MEP UKIP Transport Spokesman Added "A fuel duty rise could have a huge knock on affect to our haulage industry who are already under huge financial pressure."
"This rise could serve as the straw that breaks the camels back and could be the death knell for many businesses"
Mr Nuttall added: “It’s not as though our supposedly ‘cheap’ petrol is anything of the sort.
“When you remember that around 73% of the average 102p litre of UK unleaded petrol goes directly into the Treasury coffers, you realise motorists are still getting taxed to the hilt.
“The exact product at the exact same volume – just one litre – costs on average about 36p in the United States of America. While nowhere near as reasonable as across the pond, our European Union neighbours in France, Germany and Spain pay less for their petrol than we do, too.
“Motorists are always sitting ducks when chancellors need to find cash from somewhere. It’s not been 12 months since Mr Osborne promised to protect them, but now he’s preparing to do the exact opposite.”