Thursday 15 November 2012

Is the 3 pence per litre tax increase going to be abandoned ?

After a delay of the tax increase from January in the new year to as late as April, it looks like the 3 pence per litre increase could be abandoned completely. The shadow chancellor has released a statement saying that by delaying the increase, by at least the 3 months that have already been decided upon, it will decrease the pressure on households going into 2013. His argument was that there is not a strong enough economic recovery and that it would be unfair to put an extra squeeze on families and pensioners.
The issues with this plan arose when it was predicted that many conservative MPs would vote with Labour against the increase. With the average price of a litre of unleaded standing at just under £1.40 at the moment it is obvious  that this would be a very unpopular idea. The shadow chancellor claims that the money could be made up by closing tax loopholes that allow companies to avoid paying as much tax as they should be paying.

Although this may be postponed for now there is no real guarantee that this increase won’t come though in the near future so it may be time to invest in a more economical car. At Carlease UK  we are really keen to get you into an environmentally friendly, efficient and cost effective car and this may be a great time to do it before you start paying more or your old one. For your next car, why not consider an economical model with great fuel savings and good benefit in kind tax savings.

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