Do they British Government really expect to blame the economy on the oil price?
Saturday, August 9th, 2008
Graham H asked:
Petrol tax is charged as a percentage. That means that every time the price of oil goes up the government receives more tax for it, so why do they need to raise other motoring taxes?
Petrol tax is charged as a percentage. That means that every time the price of oil goes up the government receives more tax for it, so why do they need to raise other motoring taxes?
In fact they should even be able to cut the percentage of fuel tax.
And North Sea oil used to be expensive because it is offshore but now the cost of production has shrunk as a proportion of the sales price so the tax revenue on the oil and on the profit has increased.
When are we going to get the benefit of all this increased income?
Theodore
