𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Rachel Reeves has been told to cut fuel duty immediately as 1,300 sole traders say their businesses could be driven over the edge. Howard Cox, the founder of FairFuelUK said that 36.4% of 3,678 sole traders, including bricklayers, plumbers, electricians, and others across the UK, have informed his organisation in an online survey that current pump prices could “drive their businesses to the brink of collapse” unless the Chancellor takes immediate action to reduce the cost of fuel, specifically diesel.

Mr Cox said the oil price crisis caused by war in the Middle East has “reached a critical point, significantly impacting small businesses, drivers, and the UK economy”, adding: “FairFuelUK and its 1.8million supporters urge the Government at the very least to commit to maintaining a freeze on fuel duty for the entire duration of this Parliament.

“More crucially for the economy, 95.4% of 78,933 respondents in the FairFuelUK opinion poll, representing the UK’s 37million motorists and small businesses, call on Rachel Reeves to reduce fuel duty immediately, eliminate the unjust VAT on fuel duty, and ensure that pump pricing remains fair, honest, and transparent through the establishment of a PumpWatch regulatory body with the authority to enforce compliance.

It comes after Ms Reeves announced announced last week that the Competition and Markets Authority is being given new powers to clamp down on price gouging through an anti-profiteering framework.

Mr Cox added: “The Chancellor dismisses sharp rises in petrol prices and energy bills as mere ‘global turbulence.’ However, numerous countries worldwide, such as France, India, and Italy, are recognising the financial sense in supporting drivers amid soaring pump prices. They are capping pump prices, cutting fuel taxes, and ensuring secure fuel supplies.

“Rachel Reeves appears to be overly influenced, if not controlled, by Ed Miliband’s unfeasible Net Zero agenda, and remains determined to uphold the 5p increase in the Autumn Budget. She is either neglecting her responsibilities or acting ideologically by failing to do what her role requires: preventing inflation from rising, protecting jobs, supporting GDP growth, and maintaining consumer spending.”

It is the Chancellor’s duty to implement “what is widely recognised as fiscal common sense”, the motoring expert said.

“Reducing transport fuel costs would enable the economy to thrive,” Mr Cox said.

He added: “The Chancellor and any sensible economist in the Treasury must promise to keep fuel duty frozen for the duration of this Parliament.

“However, even more beneficial to the economy and small businesses, she must cut fuel duty now, remove the immorally levied VAT on fuel duty, and ensure that pump pricing is fair, honest, and transparent through a PumpWatch regulatory price monitoring body with legislative authority.”