Drivers are set to be hit the hardest in the upcoming October Budget, according to the founder of FairFuel, with the Government potentially hiking fuel duty rates.
Chancellor Rachel Reeves is set to deliver Labour’s first Budget in Government at the end of the month, with Britons bracing themselves for very “tough decisions”.
Many have questioned whether the Government will make any changes to the rate of fuel duty in a bid to fill in the £22billion public spending black hole left by the previous Conservative administration.
Speaking to Martin Daubney on GB News this afternoon, Howard Cox, founder of FairFuel UK, spoke about how the Budget could have an impact on motorists across the UK.
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Howard Cox has warned that drivers will face the biggest burden in the October Budget
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He said: “Drivers are going to be the hardest hit sector in that Budget, there’s no doubt about it. We’ve had 14 years of a fuel duty freeze in that time and we decided to do our 14th opinion poll on the Budget.”
As part of the FairFuel survey, more than 55,000 people have now taken part, with analysis showing that drivers of bigger vehicles are likely to be angrier at motoring policies.
He added: “Drivers are worried sick. I’ve actually got some credible information that Rachel Reeves is going to put fuel duty up by something like 10 pence per litre.
“I don’t think she’d do that now, I think it would be more like 5p, which would restore Rishi Sunak’s actual cut he did in 2022.
“But again, we didn’t see much of that on the forecourts, that wasn’t passed on. But people are genuinely worried sick about it and I’m very worried that people are not taking the threat, the cost of motoring and the impact on the economy, very seriously.”
Martin Daubney suggested that some people want to “push the agenda that cars are the root of all evil”. He added that certain people want everyone to “go around on push bikes and be powered by windmills”.
The former Prime Minister cut the rate of fuel duty by five pence per litre in 2022 to compensate for the rising cost of petrol and diesel after the Russian invasion of Ukraine.
However, the majority of British drivers didn’t see any price drops at the forecourts because major retailers and supermarkets failed to pass on the savings to motorists, accounting for almost £1billion in overcharging.
Cox continued, saying: “People forget that a 44-tonne truck does about eight miles to the gallon so any increase to fuel duty, the magnitude of 5-10p is tens of thousands of pounds a year to a small haulage company.
“That means they can’t employ people, they can’t even buy cleaner HGV vehicles. It’s completely and utterly stupid, a lack of common sense.
“We need to actually cut the cost of motoring because that will cut inflation and add to growth.”
Many motorists will be hoping that the Government retains the fuel duty freeze, which will expire in March next year after it was extended again by former Chancellor Jeremy Hunt in the 2024 Spring Statement.
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Fuel duty rates could be changed in the upcoming October Budget
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In relation to fuel duty, an HM Treasury spokesperson told GB News: “Following the spending audit, the Chancellor has been clear that difficult decisions lie ahead on spending, welfare and tax to fix the foundations of our economy and address the £22 billion hole in the public finances left by the last Government.
“Decisions on how to do that will be taken at the Budget in the round.”
