Dated: 26 June 2012
Responding to the Chancellor’s decision to scrap the 3p increase in fuel duty planned for August, Simon Walker, Director General of the Institute of Directors, said:
“In our pre-budget survey, freezing fuel duty was at the top of our members’ wish-lists for improving the UK’s competitiveness, so this is welcome news. Increasing the cost of making deliveries or of staff getting to work was only going to harm the economy, and many will be relieved that the rise has been cancelled. The Chancellor has made the right decision, and the wheels of commerce will turn more smoothly as a result.”
IoD Polling on fuel duty
In the pre-Budget Policy Voice survey of 1,118 IoD members, conducted in February 2012, freezing duty on petrol and diesel was the tax intervention IoD members most wanted the Government to prioritise in the Budget. 73% thought a freeze was a high or very high priority.