With the UK’s smaller sized firms facing the highest rise in fuel duty in 12 years, the government is being urged to intervene.
Fuel tax is set to rise in April by 23%, 12p a litre – the Federation of Small Businesses (FSB) says that this could have big consequences for SMEs, with research showing that 54% of firms who saw a rise in business expenses blamed fuel as one of the main causes.
The FSB is calling on the Chancellor to scrap the planned rise in the Spring Budget.
FSB National Chair, Martin McTague, said, “The Chancellor didn’t mention this fuel tax bombshell in his Autumn Statement, with the Government instead slipping it out in weighty official documents afterwards.
“If fuel duty rises as planned, it would represent a missed opportunity to remove one of the obstacles that will hinder growth – but the Chancellor still has the power to rectify that mistake in next month’s Spring Statement.
“Small firms are already struggling with a cost of doing business crisis, led by rampant inflation and high energy bills. This is the worst possible time to pile on extra taxes.”