Weekly wages would go up if fuel duty was cut by just 20p, campaigners claim

BRITAIN would get a £17billion boost if fuel duty was cut by 20p, campaigners claim.

It would also bolster investment and increase earnings by £4 a week, they argue.

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Campaigners claim Britain would get a £17billion boost if fuel duty was cut by 20p[/caption]

The TaxPayers’ Alliance calculations are based on a cut in petrol and diesel tax from 58p to 38p at the start of the year.

It says the economy would grow by 0.53 per cent — worth £17billion — while also attracting £4billion more investment.

Harry Fone, the group’s grassroots campaign manager, said: “Taxpayers being battered by prices at the pump want to see a big fuel duty cut.

“Given fears of sluggish growth, slashing costs for driving would fire up the economy and make it cheaper to do business around the country.

“Cutting fuel duty would be a welcome way to get Britain moving again.”

In February, then-Chancellor Rishi Sunak cut the levy by 5p a litre — the first cut in more than a decade.

But that was swallowed up by soaring oil prices, with motorists still paying record prices to fill up.

Howard Cox, founder of FairFuelUK, backed the idea, saying: “I have passionately championed the fiscal benefits of lower fuel taxes in boosting GDP, jobs, wages, company investment, consumer spending, lowering inflation and business costs.”