Easy way for the government to reduce the price of petrol at the pump by 8.24 pence.....stop taxing a tax!
Currently VAT on Petrol is calculated by applying the 17.5% tax to the price of a litre of fuel after the Excise Duty has been applied, so a taxed tax occurs.
This is the only time this ricockulous practice happens and is a disgrace.
By stopping this "Highway Robbery" the price of a litre of fuel would drop by 8.24 pence
If you want confirmation of this fact check out
http://www.abd.org.uk and read the recent press release 455
And for a simple analysis of the cost of a litre of fuel, where it goes, how it breaks down and compares to other European countries check out the BBC
http://news.bbc.co.uk/1/s[...]l/1.stm
And finally check out this
http://www.ukpia.com/Port[...].05.pdf for a brief explanation of where and how oil prices and petrol prices come about.
Perhaps the best protest should be to our MP's, MWA, MSP's to campaign about the double tax whammy we get hit with here in UK and not blockade refineries, go slows and other actions that will only be used to bring in new powers, forward the case for road tolling, bring ID cards closer and other unpleasantness.
Perhaps it's time to remind our elected representatives who actually gives them the job.
Alex
xxxx
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