The Conservatives have extraordinary credentials when it comes to fuel duty. Before 2010, it was almost certain that fuel duty would increase in every Budget, as sure as the sun rises in the east and sets in the west.
The Government must ensure that motorists are not taken for a ride by the greed of certain oil companies
The shock-absorber is a looser fiscal policy. Although the budget deficit is higher than one would like, the good news is that it is falling sharply.
The second in a series of articles on how the Chancellor should approach the upcoming Spring Statement.
Of the main tax cut candidates urged on the Chancellor, the best available is a VAT fuel reduction.
Whilst the Government is rightly preoccupied with soaring energy bills, the results of a spike in petrol prices could be very damaging.
The Government should focus on using markets and pricing to change behaviour, not just persuasion.
It will, for one, open the door to numerous other interest groups, who will demand for such a policy to be maintained or used again in the future.
Perhaps the simplest way of putting it is: it’s all about economic credibility, stupid. Because come 2024, it certainly will be.
Action on decarbonising heat so far is not nearly sufficient to meet our 2050 net zero target. But a potential solution is right under our noses.
The Coronavirus will punch a hole in Sunak’s sums sufficient to throw levelling-up, Boosterism, Brexit bonuses – what have you – off course.