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Only teasing Sir Geoffrey

23rd May 1981, Page 27
23rd May 1981
Page 27
Page 27, 23rd May 1981 — Only teasing Sir Geoffrey
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Which of the following most accurately describes the problem?

IN ANNQUNCING that the increase in dery duty would be reduced from 20p to lop a gallon when the Finance Bill eventually received the royal assent, Sir Geoffrey Howe almost contrived to sound like a fairy godfather. The tax, he said with concealed indignation, accounted for eight, per cent of road transport costs' and found its way into consumer prices. This was, of course, quite intolerable.

Four days earlier that naughty Len Payne, president of the Freight Transport Association, had accused the Chancellor of the Exchequer of forgetting that, on average, distribution costs: represent about 16 per cent of industrial expenditure. But roguish Sir Geoffrey knew it all the time. In increasing fuel tax by 20p he was only teasing.