I rise to present a petition on VAT on petrol and diesel from residents of North Ayrshire and Arran. As the cost of living spirals and fuel costs in turn spiral to an all-time high, the squeeze on living standards is greater than it has been since the 1970s.
The petition states:
The petitioners therefore request that the UK Government immediately and urgently reduces VAT on fuel and/or fuel duty to ease the pressure on households, businesses and essential road users and to help keep inflation in the single figures.
Following is the full text of the petition:
[The petition of residents of the constituency of North Ayrshire and Arran,
Declares that there is an urgent need to address the ongoing spiralling fuel prices across Scotland and the UK, with the cost of petrol and diesel in the UK hitting an all-time high as the average cost of filling up a typical family car has broken through the £90 barrier for the first time ever; is concerned that motoring organisations have warned of “unbelievable financial pain” as fuel prices climb at unprecedented rates with oil prices reaching over $130 a barrel; is mindful that these rising costs will quickly feed into the cost of living as hauliers pass on extra costs to customers and there is genuine concern that inflation could reach 10% this year resulting in the biggest squeeze on living standards since the 1970s; understand that whilst fuel duty has remained at 57.95 pence a litre for the last 1 years, motorists pay an additional 20% VAT of 12p on that fuel duty effectively paying a tax on a tax of every litre of fuel bought before the cost of extractions, purchase, shipment and forecourt sales are added, which also incur VAT; appreciates that the Treasury is raking in billions as VAT on fuel costs at forecourts rockets and other prices rise, accelerating rising inflation.
The petitioners therefore request that the UK Government immediately and urgently reduces VAT on fuel and/or fuel duty to ease the pressure on households, businesses and essential road users and to help keep inflation in the single figures.
And the petitioners remain, etc.]
[P002722]