AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

Call our Sales Team on 0208 912 2120

No fuel tax cut

18th June 1971, Page 34
18th June 1971
Page 34
Page 34, 18th June 1971 — No fuel tax cut
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

Which of the following most accurately describes the problem?

• The total amount of duty paid on hydrocarbon oil bought by road hauliers who transport other people's goods will probably be about L-75m in the current financial year, said Mr Maurice McMillan, Chief Secretary to the Treasury.

Mr Peter Rost (Tory, Derby South East), who had asked for the estimate, suggested that this would be an appropriate time to reduce this crippling burden of taxation on fuel oil and petrol.

But Mr McMillan told him that the Chancellor in his budget had decided that the concessions on indirect taxation should be concentrated on SET. He did not think that the Chancellor could contemplate making any changes at this stage by reducing taxation on hydrocarbon oil.