14 March 2011
The price of fuel has gone up dramatically in recent months, and it will get worse. The political situation in the Arab world, Peak Oil, and the increasing demand from developing countries all converge to put ever more pressure on dwindling resources. Oil prices influence everything, from fuel, to the heating of our homes, to the price of food, clothing, household goods and other commodities and services.
Scrapping the 1% extra fuel duty tax that is due in April will only be a temporary relief, for a relatively limited group of intensive car users. Much more effective would be a return to the 17.5% VAT tariff. That would relieve the pressure on everybody, and particularly on those on lower incomes, who have been hardest hit by the increase.
Read Caroline Lucas' blog here
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