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Home / News / Comment on Chancellor of the Exchequer’s Autumn Statement

Comment on Chancellor of the Exchequer’s Autumn Statement

A photo of Julie Jenner ACFO Chairman
ACFO Chairman Julie Jenner

Fuel duty
“The intensive business and consumer lobby against fuel duty increases when corporate and private budgets are under so much pressure meant the Chancellor had no choice but to cancel the January increase.

“By cutting the proposed August 2012 duty increase to 3p a litre from 5p a litre I think he has tried to appease the protests but has also brought himself time to see how the economy is performing in eight months. We are sure he will look again at fuel duty in the spring Budget.

“However, while we are pleased that the Chancellor will not press ahead with the 3p a litre January increase, fleets, business drivers and private motorists are no better off. Fuel prices remain extremely high so it would have been more helpful if he had relieved pressure on business and private fuel budgets by cutting duty.”

Road building
“Successive Governments have severely under invested in the nation’s road network. Although the Government collects more than £40 billion a year in motoring-related taxes less than a quarter of that cash is reinvested in roads and other transport schemes.

“Congestion costs businesses money, but the promised projects will take years and years to come to fruition. While we welcome the infrastructure investment, it is long over due.

“However, while few will oppose plans to ‘get Britain moving’, all drivers must continue to put up with continuing congestion on roads across the country for a long time to come. As a result, congestion will cost businesses money in delayed appointments and meetings and the late delivery of goods.”

For more information: www.acfo.org