Drivers await key tax decision that could save them hundreds every year
manchestereveningnews.co.ukMillions of motorists facing increasing prices at the pump could benefit from a key decision waiting on the desk of the Chancellor of the Exchequer ahead of his budget for the next fiscal year - whether or not to keep a decade of fuel duty freezes.
Unlike other taxes, fuel duty, or the amount of tax payable on a litre of fuel, has been frozen for more than a decade, rather than rising with inflation, with each successive Chancellor keeping the tax freeze.
Then in 2022 as petrol prices soared to almost £2 per litre, the Government also cut fuel duty by 5p to help struggling drivers.
The decision to freeze this tax has cost the taxpayer around £6 billion each year in lost revenues but directly benefitted the millions of motorists struggling to meet rising fuel costs at home and on the road.
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