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Cut fuel duty to boost economy, FTA tells Treasury

Reductions in fuel duty are the key to un-locking economic growth, the Freight Transport Association has told chief secretary to the Treasury, Danny Alexander.

At a meeting on Monday the FTA presented the findings of studies carried out by the National Institute of Economic and Social Research.

The meeting took place ahead of the government’s planned 3p per litre fuel duty hike, which is scheduled for 1st Jan 2013. 

James Hookham, managing director – communications and policy said:  “FTA believes that the reductions in fuel duty are the key to un-locking economic growth and we are determined to enlighten the Treasury as to how that can be done.”

A recent study showed the impact of fuel duty on UK growth and the economy, and follows earlier research which was carried out by the Centre of Economic and Business Research.

Analysis of ground breaking modelling work undertaken by FairFuelUK on the impact of fuel duty on UK growth and the economy was also discussed.

Quentin Willson, national spokesman for FairFuelUK said: “This is an enormously positive gesture from The Treasury for FairFuelUK to present their ground-breaking research on the impact raising fuel duty has on the UK economy.

“The fact that Treasury figures are interested and listening sends an important message to all the business and families out there deeply anxious about the forthcoming 3p rise in January. This sort of open-minded engagement is exactly what this country needs to see.”