Esther McVey is urging Government to scrap any plans to increase fuel duty in next week’s Budget claiming hiking prices at the pumps would be a slap in the face for hard-working families.
The Tatton MP is one of a group of MPs who have written to the Chancellor demanding he abandons any plans to raise costs to plug the Covid black hole in public finances.
She said it would be devastating for families and businesses if any increase was added to already high prices.
Ms McVey said: “People and businesses rely on vehicles and any increase would hit them hard, especially at this extremely difficult time. It makes no sense to increase costs and research has shown that cutting fuel duty creates jobs, stimulates GDP, and helps lower inflation. At this time, we need to do everything we can to support hardworking people and businesses get back on their feet as the country reopens, not be hitting them with extra costs.”
It has been reported the Chancellor is considering a 5p rise. Research by the Centre for Economics and Business Research shows “a hike of 2p would cut GDP by £600million, reduce employment by 8,000 jobs and add 0.6 per cent to inflation”.
