say Business Groups

Budget Fuel Duty Rise Must be Scrapped, say Business Groups

Small firms cannot afford another increase in fuel duty – that’s the message from business groups, following research which highlighted that 60% of small firms would be unable to absorb a further hike. With the price of unleaded petrol hitting a record average of 130p per litre and reports claiming that a further fuel hike may be announced in the Budget on 23rd March, business groups have called for a freeze on fuel duty. Research from the Federation of Small Businesses (FSB) has predicted that 10% of small firms would have to lay off staff to cover the cost of a further fuel duty rise. FSB national chairman, John Walker, said that the Government needed to provide a stable environment for small firms to grow: “With the downgrading of GDP in Q4 2010, it’s clear that the economy is in ... »