Petrol duty to go up...

#1
ARRSE has seen thread after thread condemning oil companies for not lowering pump prices quick enough and accusing them of daylight robbery.

All the time, HMG happily takes 65%ish of the price of a litre straight into it's coffers.

So, what has the Chancellor just announced:
[that] he is increasing duties on alcohol, tobacco and petrol
 
#3
Bunch of cnuts.

Darling has just announced that he is going to double national debt in the next 5 years.

So, all that time to build up debt and these insane fools are doubling it....
 
#4
psychobabble said:
But only so that it remains the same price as the VAT has gone to down to 15%. Same applies to cigs and alcohol as well.
Indeed. The reduction in VAT is only a temporary measure until the end of 2009. Presumably the increase in duty will only last for a similar time?
 
#5
Uncivil_Servant said:
psychobabble said:
But only so that it remains the same price as the VAT has gone to down to 15%. Same applies to cigs and alcohol as well.
Indeed. The reduction in VAT is only a temporary measure until the end of 2009. Presumably the increase in duty will only last for a similar time?
Hahahahaha :x
 
#6
psychobabble said:
But only so that it remains the same price as the VAT has gone to down to 15%. Same applies to cigs and alcohol as well.
Yes so that means the benefit of the VAT reduction isn't being passed on - thanks very much Gordon. Cyclops will be claiming that Christmas sales wouldn't have been so high if it wasn't for his great move.
 
#7
psychobabble said:
But only so that it remains the same price as the VAT has gone to down to 15%. Same applies to cigs and alcohol as well.
And then when VAT climbs again after christmas, the duty will remain the same resulting in a net price hike. Very clever indeed.
 
#8
He's a prick. Scrap ID Cards, tighten up the benefit system and freze polititians pay. Don't tax the people in a different way, when are the elections again...?
 
#9
Personally I think it's fecking outragous. A charter for the feckless. If you are a hard worker, didn't buy your house at the wrong time and owe shedloads that you can't afford, then you are stuffed.

The rest of us are going to have to pick up the bill in our NI payments etc. Frankly, the quicker these chumps get out the better.
 
#11
jew_unit said:
psychobabble said:
But only so that it remains the same price as the VAT has gone to down to 15%. Same applies to cigs and alcohol as well.
And then when VAT climbs again after christmas, the duty will remain the same resulting in a net price hike. Very clever indeed.
That's after NEXT Christmas not this one and VAT remains at 15% on everything it's levied on, apart from just booze fags and petrol. Food bills will drop, as will clothing prices. Should still result in a reduction in household spend, unless you spend all your money on alcohol, cigarettes and petrol! If they hadn't lifted the fuel duty they'd be borrowing even more money.......

This is a short term fix to restart the economy, where we'll be at the end of the 13mth period is anyone's guess.

Not a Labour fan at all but not sure they really had a lot of choice in the matter and it was welcomed by most knowledgeable commentators this morning when the possibility was being debated
 
#12
Cow said:
He's a prick. Scrap ID Cards, tighten up the benefit system and freze polititians pay. Don't tax the people in a different way, when are the elections again...?
Agreed he is a pr*ick and the simpering cow next to him is c*nt!.

This disgraced government will only scrap ID cards in the run-up to the next election.

'Tighten up the benefit system' - you are joking. Those on 'benefits' are this government's most loyal voters, together with the hundreds of thousands of 'civil service jobs' they have created in the last eleven years of misrule.

Trouble is, the great unwashed cannot see the damage this awful government is doing, but they have votes!
 
#14
Infiltrator said:
Personally I think it's fecking outragous. A charter for the feckless. If you are a hard worker, didn't buy your house at the wrong time and owe shedloads that you can't afford, then you are stuffed.

The rest of us are going to have to pick up the bill in our NI payments etc. Frankly, the quicker these chumps get out the better.
I think the NI increase will only come into effect after the next election, along with the new 45% tax band on £150K+. No grounds for optimism though, as even if this bunch of cnuts get thrown out, the Tories are going to have to bring on similar pain (however it's dressed up) to start balancing the books. :(
 
#15
If you are on over 40K a year, your NI will go up by 1000 POUNDS PER YEAR.

Anyone fancy a coup? These ********* are fcuking dangerous.
 
#16
I've just watched the BBC work out that anyone on over £40k per annum will pay an extra thousand pounds a year in taxes after 2011.

Feck me, that's a lot of people going to be worse off. It's not as though £40k is a lot these days.

Edited to say.......bugger, beaten by the Guru!
 
#17
lsquared said:
Cow said:
He's a prick. Scrap ID Cards, tighten up the benefit system and freze polititians pay. Don't tax the people in a different way, when are the elections again...?
Agreed he is a pr*ick and the simpering cow next to him is c*nt!.

This disgraced government will only scrap ID cards in the run-up to the next election.

'Tighten up the benefit system' - you are joking. Those on 'benefits' are this government's most loyal voters, together with the hundreds of thousands of 'civil service jobs' they have created in the last eleven years of misrule.

Trouble is, the great unwashed cannot see the damage this awful government is doing, but they have votes!
I've said it once and I'll say it again - people on benefits don't vote! It's not in their nature!
 
#18
psychobabble said:
But only so that it remains the same price as the VAT has gone to down to 15%. Same applies to cigs and alcohol as well.
But on what pump price is this revision to be made? HMG are changing an 'accumulated tax' to a 'flat tax'.

Duty is currently 50.35p a litre for 95RON. VAT 17.5%.

If you pay 95p per litre today, you are paying 50.35p duty and 14.15p VAT. Total tax 64.5p.

If HMG does a straight swop based on this price, duty should rise 52.1p per litre and VAT (at 15%) fall to 12.4p. Total tax remains at 64.5p.

However, if the oil companies lower prices due to crude price falling (you are currently paying prices reflective of $80-90 per barrel not the current price of less than $50), HMG takes more tax under the new system. If the oil price rises, then HMG takes less.

Do you think that the pump price is likely to be, on average, above or below 95p litre for the next 13 months?

And secondly, when this VAT reduction ends, in 13 months, will the duty be reduced?
 
#20
whitecity said:
psychobabble said:
But only so that it remains the same price as the VAT has gone to down to 15%. Same applies to cigs and alcohol as well.
But on what pump price is this revision to be made? HMG are changing an 'accumulated tax' to a 'flat tax'.

Duty is currently 50.35p a litre for 95RON. VAT 17.5%.

If you pay 95p per litre today, you are paying 50.35p duty and 14.15p VAT. Total tax 64.5p.

If HMG does a straight swop based on this price, duty should rise 52.1p per litre and VAT (at 15%) fall to 12.4p. Total tax remains at 64.5p.

However, if the oil companies lower prices due to crude price falling (you are currently paying prices reflective of $80-90 per barrel not the current price of less than $50), HMG takes more tax under the new system. If the oil price rises, then HMG takes less.

Do you think that the pump price is likely to be, on average, above or below 95p litre for the next 13 months?

And secondly, when this VAT reduction ends, in 13 months, will the duty be reduced?
Sorry it's taken me a while to reply to this bit....I've only just picked myself up of the floor from laughing so much! I'll bet Darling is upset that anyone will have picked that up quite so quickly!
 

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