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[Un-allotted Half Day] — Fuel Costs

Part of Opposition Day – in the House of Commons at 5:35 pm on 7th February 2011.

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Photo of Kerry McCarthy Kerry McCarthy Shadow Minister (Treasury) 5:35 pm, 7th February 2011

Those matters were also affected by fuel prices at the time, but it is not my position to apologise for, or to express an opinion on, what my predecessors did.

The VAT rise now is the important thing. VAT went up at the beginning of the year from 17.5% to 20%. According to the Library, the VAT rise increases the cost of a litre of petrol by about 2.6p, assuming that it is passed on in full. That compares with the fuel duty increase in January of 0.76p per litre, so the VAT rise to 20% is hitting the motorist harder and people in rural areas, who rely on their cars most and have to travel longer distances, particularly hard.