April 21, 2008

Road Haulage Association chief, Roger King, has urged the Government to take action to stabilise fuel prices in the wake of their current increases. He claims that the UK’s haulage industry “has a real problem” stating that "The speed and magnitude of the price rise is jeopardising the industry's profitability as haulage rates fail to match costs”

He added “The Prime Minister has called for economic stability and we support that, so we are calling for help in stabilising fuel prices for road transport. That means setting a barrel rate and any price rise above that should be offset by a duty rebate. The industry needs this help to enable haulage rates to catch up with costs."

There are a number of measures the chancellor could call upon to help ease the pain a little, including applying the VAT on the fuel rather than the cost of fuel and tax applied to it, whereby applying VAT on the tax charged on fuel, as well as the fuel itself.

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