Wullie 1 Posted March 23, 2011 (edited) I'm not very good at sums so. If a penny tax was added to a litre would mean that petrol would rise by about 5p a litre (according to the tele people) does that mean that taking a penny off in tax means that petrol will fall by 5p a litre? Or do I live somewhere beyond the planet Zanussi.:scratch: Edited March 23, 2011 by davidwort Quote Share this post Link to post Share on other sites
James14100 10 Posted March 23, 2011 http://www.petrolprices.com/fuel-tax.html The extra tax is on fuel duty so it shouldn't be affected by VAT, which means it should only go up by 1p but you know that means 3p at the pumps minimum probably ---------- Post added at 02:50 PM ---------- Previous post was at 02:48 PM ---------- Besides it looks like its going down :-) http://www.bbc.co.uk/news/business-12831894 Quote Share this post Link to post Share on other sites
Yandards 0 Posted March 23, 2011 It should mean at least a penny off a litre although this is a penny from fuel duty (which is calculated per litre sold), given that a litre is about 1.35 right now the VAT on the penny off also counts. Given that we were due for a rise of 1p a litre IIRC then this is in fact a cut of 2p a litre in duty alone. Although maths is not my strong point :) Quote Share this post Link to post Share on other sites
davidwort 0 Posted March 23, 2011 The rise was going to be more like 4-5p which is now cancelled, as has the fuel tax escalator been for the next 4 years, the extra tax take from the recent rises has helped to make this possible. Cold-comfort though, when it's risen so much in the last 3-6 months anyway. Quote Share this post Link to post Share on other sites
Alex_G60_Fanatic 0 Posted March 23, 2011 a litre is about 1.35 right now WOW... you'd think seeing as your NEXT TO the oil refinaries it would be cheaper! It's about 1.30 down here bud! Basically duty will go down by 1p INSTEAD of going up by 5p over 2 years.... Quote Share this post Link to post Share on other sites
coullstar 0 Posted March 23, 2011 1.35 for super. 1p off, Im definitely getting the S4 now.... Quote Share this post Link to post Share on other sites
Kevin Bacon 5 Posted March 23, 2011 Is this the result of the budget? 1p off the fuel duty? Quote Share this post Link to post Share on other sites
coullstar 0 Posted March 23, 2011 http://www.bbc.co.uk/news/uk-politics-12824055 Quote Share this post Link to post Share on other sites
corozin 0 Posted March 23, 2011 Don't all rush out. I'm waiting to see if the petrol companies actually change the prices on the forecourts tomorrow. Let's face it, they don't exactly have a spotless record at passing on decreases in prices quickly do they? Quote Share this post Link to post Share on other sites
mimjed 0 Posted March 23, 2011 1p off after it rose by what 3p a litre with the increased vat!!! dont buy this bull **** please. its just a lame attempt to get some points back in the poll's. Quote Share this post Link to post Share on other sites
Danny B 0 Posted March 23, 2011 1p off after it rose by what 3p a litre with the increased vat!!! dont buy this bull **** please. its just a lame attempt to get some points back in the poll's. Sorry dont agree with that........not much concern with polls at this stage of term !! I think its an honest a budget as we have had in a while. Quote Share this post Link to post Share on other sites
vornwend 0 Posted March 23, 2011 No such thing as an honest budget if you ask me. The detail in the small print of the official budget release (>100 pages) reveals all kinds of nasties including a switch from indexing allowances from RPI to CPI which is a stealth tax rise if ever there was one. In terms of cheap political points and concern with polls it may have escaped your notice but there are over 300 local elections in 6 weeks time! Quote Share this post Link to post Share on other sites
tony_ack 0 Posted March 23, 2011 George Osbourne it would seem isn't as stupid as he looks. 1p off fuel duty is offset by an increase in tax on oil companies. I'm sure Big Oil will now break out the violins and say they need to raise prices to cover the extra tax. Net cost per litre will remain the same (in relative terms). The tax the government collects for fuel/oil will remain broadly the same. But now the anger focus will be on Big Oil who have raised their prices, and not the government, who have cut fuel duty Quote Share this post Link to post Share on other sites
Danny B 0 Posted March 23, 2011 I neither think there is such a thing as an honest budget hence why I said 'as' honest a budget........sorry but I think its far to easy to suggest the local elections would have SUCH an impact (obviously they have an impact) on the budget at this vital stage in term. You may disagree but its just my 2p !! Quote Share this post Link to post Share on other sites
dragon green 4 Posted March 24, 2011 Does anybody know how much car tax has gone up ? Quote Share this post Link to post Share on other sites
James14100 10 Posted March 24, 2011 It's going up by the rate of inflation as of April 1st Quote Share this post Link to post Share on other sites
James14100 10 Posted March 24, 2011 it all means sod all anyway cos I filled the Golf yesterday morning at £1.32.9/L and this morning it was the same price so clearly not everyone is passing it to customers Quote Share this post Link to post Share on other sites
tony_ack 0 Posted March 24, 2011 I read somewhere that the duty cut comes in from 6pm on Thursday (today) Quote Share this post Link to post Share on other sites
