Rising fuel costs have long been a real concern for both firms and families. The recent hike in VAT and the threat of a further increase in fuel duty have only added to the worries.<\/p>\n
One possible solution is the introduction of a fuel duty stabiliser, but some critics have doubted whether such a system would be workable. However, the Federation of Small Businesses (FSB) has argued that a stabiliser, far from being complicated and unwieldy, would be simple and affordable. <\/p>\n
Basing the stabiliser on the oil price cycle would enable the level of fuel duty to be calculated against a trend price for oil. This would then be adjusted at regularly timed intervals following changes in the oil price cycle, the FSB report claimed. Fuel duty would, therefore, be x pence per litre minus a proportion of the difference between the current oil and trend oil price. <\/p>\n
FSB research has shown that the rise in fuel duty and uncertainty over fuel prices will have a significant impact on small businesses. <\/p>\n
John Walker, the FSB\u2019s national chairman, commented: \u201cCritics have said that the fuel duty stabiliser is too difficult to introduce. The FSB does not agree. A fuel duty stabiliser would give the UK\u2019s five million small businesses the certainty and stability they need to factor in fuel costs to their business plans.\u201d<\/p>\n
If you feel your business would like expert advice on managing its finances, don\u2019t hesitate to give us a call.<\/p>\n","protected":false},"excerpt":{"rendered":"