Good news, drivers. Chancellor George Osborne has announced some rather positive news for anyone reliant on petrol. In his Autumn Statement, he announced the scheduled 3p rise in fuel duty would not just be postponed, it has been scrapped entirely.
Originally the rise was due to occur in August of 2012 but various postponements had kept it at bay until its proposed introduction in January 2013. It has been hanging over our heads for some time now, like a gloomy cloud above the heads of struggling motorists, some of whom are so hard up, they’ve been sleeping in their cars to save money on petrol.
There are other reasons to crank out the bubbly. You won’t see a rise based on inflation until September 2013, so while an increase may still occur if the price of oil rockets, at least the changing value of the pound shouldn’t cause an unwanted spike.
In addition, it appears some of your tax money will actually be used for improving the roads – or, at least, that’s the plan. The Chancellor intends to spend a further £1billion on improving the UK’s tarmac network, a lot of which has been hit hard in recent times thanks to snowy winters. A number of roads are set to benefit including the A1 in Newcastle and the M25 motorway at Thurrock, Kent.
With news of the average cost of filling up hitting more than £62 and with many of us contemplating a change of career just to curb costs, a bit of a break from fuel increases is very welcome and should help encourage Brits to keep moving.