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FTA calls for freeze on diesel duty in Budget
23rd March 2006, Page 13
23rd March 2006
Page 13
Page 13, 23rd March 2006
— FTA calls for freeze on diesel duty in Budget
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Keywords :
Transport Economics, Acronyms, Eta, Irregular Military, Freight Transport Association, Diesel Locomotive, Business / Finance
AS CM WENT to press, the Freight Transport Association (ETA) was calling on the Chancellor to freeze diesel duty for a full year when he makes his Budget Statement this week.
ETA chief economist Simon Chapman says it would "make sense for the Chancellor to use the Budget to inject a little stability into UK oil prices by withdrawing his traditional threat to increase prices later in the year".
Duty on diesel in the UK is 47p/ lit, compared with a European average of 22p/lit. This generates huge problems for the UK road transport industry when competing against foreign vehicles running on cheap European fuel.
About one in eight of the heaviest vehicles on UK roads now comes from overseas.