Fuels: Excise Duties

Treasury written question – answered on 8th July 2020.

Alert me about debates like this

Photo of Harriett Baldwin Harriett Baldwin Conservative, West Worcestershire

To ask the Chancellor of the Exchequer, what recent assessment he has made of the effect on the public finances of the fair fuel stabiliser announced in 2011.

Photo of Kemi Badenoch Kemi Badenoch The Exchequer Secretary, Minister for Equalities

The government has frozen fuel duty in every year from 2011 to reduce the impact of high fuel prices on households and businesses. Without the nine years of action taken by the government, pump prices would be 23p per litre higher than they are today.

However, freezing fuel duty comes a significant costs to the Exchequer. The Government has spent £67bn on freezing fuel duty and will spend another £46bn by the end of 2025. Future fuel duty rates will be considered alongside measures that are needed to help meet the UK’s net zero commitment.

Does this answer the above question?

Yes2 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.