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Fuel Protests - something to think on....
graham:
--- Quote from: "redhand" ---
--- Quote from: "graham" ---Yes I can read the thread is about panic buying, but the price of fuel is what the protest is about, if the current price is harming business and pushing retail prices up, which it is. Then not only are we being hit by private fuel costs but also paying higher prices for goods, as most goods have vat the government are raking it in.
Drop the tax on fuel is the only way.
--- End quote ---
The government, whether it is raking it in or not. Has decided it needs to raise a set amount of money through taxation. if it cancelled all the duty on fuel it would have to raise the level of taxation on something else So would everyone be happy with a basic rate of income tax at 30% or VAT at 20%?? No they wouldn't. Taxation is never going to be popular but unfortunately it isn't going to go away either. A the end of the day fuel is governed by the market forces of supply and demand and demand is outstripping supply so the price will continue to rise.
--- End quote ---
So as said £2.00 a litre will not be far away.
I'm not saying cancell duty on fuel but they should off set some of it to reduce the burden.
They can reduce public spending but they always use the old chest nut of a reduction in health, schools etc to scare off anyone who supports cuts in taxation.
I'm in business use transport and TNT the costs are passed on to the end customer, retail.
graham:
I'm away for a couple of days so may not respond, i'm in the food industry we have absorbed the costs so far, but i can assure you the costs are going to be passed on food will go up in price along with other retail.
redhand:
--- Quote from: "graham" ---I'm away for a couple of days so may not respond, i'm in the food industry we have absorbed the costs so far, but i can assure you the costs are going to be passed on food will go up in price along with other retail.
--- End quote ---
High food prices are good. They're the only things that cause popular uprisings and revolutions.
French Revolution, Russian revolution, and even the 2nd world war were all triggered or heavily influenced by sharp rises in food prices.
denviks:
--- Quote from: "redhand" ---
--- Quote from: "graham" ---Yes I can read the thread is about panic buying, but the price of fuel is what the protest is about, if the current price is harming business and pushing retail prices up, which it is. Then not only are we being hit by private fuel costs but also paying higher prices for goods, as most goods have vat the government are raking it in.
Drop the tax on fuel is the only way.
--- End quote ---
The government, whether it is raking it in or not. Has decided it needs to raise a set amount of money through taxation. if it cancelled all the duty on fuel it would have to raise the level of taxation on something else So would everyone be happy with a basic rate of income tax at 30% or VAT at 20%?? No they wouldn't. Taxation is never going to be popular but unfortunately it isn't going to go away either. A the end of the day fuel is governed by the market forces of supply and demand and demand is outstripping supply so the price will continue to rise.
--- End quote ---
so they are using the motorist as a cash cow again??? :?:
if they need to raise more funds shouldnt the whole country help raise this.? not just one sector?
just food for thought?
waveydavey:
--- Quote ---The government, whether it is raking it in or not. Has decided it needs to raise a set amount of money through taxation. if it cancelled all the duty on fuel it would have to raise the level of taxation on something else So would everyone be happy with a basic rate of income tax at 30% or VAT at 20%?? No they wouldn't. Taxation is never going to be popular but unfortunately it isn't going to go away either. A the end of the day fuel is governed by the market forces of supply and demand and demand is outstripping supply so the price will continue to rise.
--- End quote ---
Normally I would agree but this is like a windfall to the Gov. As we pay VAT on fuel as %age rather than flat rate the rise in the oil price effects the VAT paid on the pump and in the shops; that small increase in so many things results in a huge windfall for the Government; way over what was budgeted for. I could even live with that if it were passed on but it will be wasted. The Oil cost puts the price up by a few pence a liter and the tax system more or less doubles that rise.
Bottom line the tax man is getting a LOT more than he budgeted for; maybe we will all get a rebate next year?
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