Fleet News

Chancellor set to abolish fuel escalator

CHANCELLOR of the Exchequer Gordon Brown abolished the annual pre-set fuel duty escalator, currently set at 6% above inflation, in his pre-Budget report on Tuesday. Following a sustained attack by industry on the annual Budget rise in fuel duty, Brown told the House of Commons during his 35-minute statement that any increases in fuel duties would be decided 'Budget-by-Budget'.

However, in the March 2000 Budget he intimated there may be no increase above inflation in fuel duties saying: 'If there are any real term rises in road fuel duties they will be lower and will go straight into a ring-fenced fund for the modernisation of roads and public transport.'

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee