Budget Day 2011: what can we expect?
With Budget Day nearing, the government must prepare for the opinions and public pressure on the infamous subject of Fuel costs.
The public grit their teeth with the news of the budget; will there be re-investment, what commodity prices will increase and where will money be lost?
An air of smoke and mirrors has always laced Budget day; with promises rarely being met, perhaps you cannot please everybody but a balance of financial control is required.
The coalition Government use this time to calculate where investment will lay. The current Fuel crisis is also likely to be high priority and eagerly watched by both business and consumer.
Chancellor George Osborne today looks certain to announce that he is scrapping a 1p duty rise announced by Labour and due to come into effect next month.
The fuel price increase has caused great concern in the last few months causing some drivers to abandon their usual transport methods because of rocketing charges.
Another announcement expects the Chancellor to go further – predicting that he will commit the Government to a freeze or further reductions in duty and to introducing a ‘fair fuel stabilizer’.
This will come as a hearty relief to motorists following a record breaking year of fuel price rises.
In addition to this, the transport industry is always highly affected by Fuel increases and a welcome break from increases would be largely appreciated. The Logistics industry has undoubtedly felt the crippling pressure of fuel costs rising.
In one report, soaring petrol prices are of more concern to businesses than corporation tax and national insurance, according to a poll of 455 small and medium-sized enterprises (SMEs).
We will hold with baited breath; until the budget has been fully announced….