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Fuel Duty

Volume 547: debated on Tuesday 26 June 2012

The effects on the economy of fuel prices, including oil prices, refinery margins and tax, are assessed by the Office for Budget Responsibility as part of its economic and fiscal forecasts.

Motorists in the Kettering constituency and local hauliers will warmly welcome today’s announcement by the Chancellor. Has my hon. Friend undertaken any analysis of the negative impact on national economic growth that would have occurred had the present Government increased fuel duty by as much as the previous Government intended?

I can confirm that, through the actions of this Government, pump prices are 10p a litre lower than they would have been under the previous Government, who had scheduled in 12 fuel duty rises while they were in office and six more for afterwards.