FTA welcomes face-to-face with Treasury over fuel duty Mon Oct 29 12:00:00 GMT 2012

The Freight Transport Association has welcomed the opportunity to take part in a face-to-face meeting with the Chief Secretary to the Treasury, Danny Alexander MP, to discuss the impact of fuel duty on the economy.

The talks, held on Monday 29 October at HM Treasury, were agreed as a result of discussions with FTA-backed campaign group FairFuelUK in order to present the findings of studies carried out by the National Institute of Economic and Social Research, and were seen as a 'promising start' to future discussions with a further meeting expected in the next few weeks.

The meeting took place ahead of the Government's planned 3p per litre fuel duty hike, which is scheduled for 1 January 2013. Analysis of groundbreaking modelling work undertaken by FairFuelUK on the impact of fuel duty on UK growth and the economy formed the centrepiece of the discussions.

FairFuelUK is supported by more than a quarter of a million members of the public and was created by road hauliers and motoring organisations as a result of spiralling fuel costs which have a devastating impact on haulage businesses, their customers and ultimately everyone through the prices on the shelves.

Quentin Willson, national spokesman for FairFuelUK, said: "This is an enormously positive gesture from the Treasury for FairFuelUK to present its ground-breaking research on the impact that raising fuel duty has on the UK economy. The fact that the Treasury is interested and listening sends an important message to all the businesses and families out there who are deeply anxious about the forthcoming 3p rise in January. This sort of open-minded engagement is exactly what this country needs to see."

James Hookham, FTA Managing Director - Communications and Policy, said: "FTA believes that reductions in fuel duty are the key to unlocking economic growth and we are determined to enlighten the Treasury as to how that can be done."

The results of the recent study include the identification of the impact of fuel duty on UK growth and the economy, and follows earlier research which was carried out by the Centre of Economic and Business Research.

Hookham added: "It is important that the Treasury understands the reasoning behind the reports which both the FTA & RHA have commissioned, and takes the opportunity to act upon them in the Autumn Statement."

 

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