|26 May 2008.
For immediate release.
“High fuel prices hit the low paid much harder than the well paid. The Labour government must surely learn from its mistake on the 10p income tax rate, and act to reduce the burden on drivers caused by rising oil prices and extortionate fuel taxation rates. Doing nothing is not an option.”ABD spokesman Ben Adams pointed out that the Chancellor can easily afford to act:
“With the extra revenues from oil company taxes on the back of recent price rises, there's no reason not to cut fuel duty immediately by say 5p or 6p with a further 5p or 6p cut if the high prices remain for the medium term. No net loss of revenue to the Exchequer, just good sense governance.”ABD Chairman Brian Gregory said:
“Most people do not realise that the true cost of petrol at present is just 45p per litre — everything above that is tax. That's a tax rate of 146%. You only have to compare this with the basic income tax rate of just 20% to see the extent by which the government are ripping drivers off.”