Johnson presses PM over fuel duty stabiliser
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Mayor of London Boris Johnson called on the Government today to "think seriously" about introducing a fuel duty stabiliser in the wake of rocketing petrol prices.
The Tory politician echoes the concerns of business leaders and motorists, who have also voiced support for a stabiliser to peg fuel duty to the price of oil.
This would meant that when the price of oil went up, the proportion of tax would go down, and vice versa, maintaining a steady price for consumers.
Writing in The Daily Telegraph, he said: "The price clobbers small businesses and makes life very tough for people in rural areas who don't have access to good public transport...
"Petrol is cheaper in virtually every other European country than it is in Britain, and whatever the reason for the recent spikes, we cannot get around the fact that the spikes are jabbing the consumer all the more painfully because the Treasury takes about 60 per cent of your fuel bill in excise."
He added: "If I were the Government, I would think seriously about that fuel duty stabiliser, because when it costs more to fill your tank than to fly to Rome, something is seriously wrong."
Prime Minister David Cameron reiterated his backing for a fair fuel stabiliser last week, despite Treasury Chief Secretary Danny Alexander appearing to pour cold water on the idea.
Mr Cameron said there should be a mechanism to "share the pain" of oil price fluctuations between the taxpayer and motorist and confirmed the idea was being examined ahead of the Budget in March.
But the premier has accepted there may be difficulties in ensuring the Government protects its revenues overall.
Mr Johnson's intervention today comes amid growing concern over fuel costs, with petrol now over £1.30 a litre at many pumps.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments