Who said the revenue earned from fuel duty was insignificant?

[rov1100]

///The government revenue from Fuel Duty was GB£25.894 billion in 2009, with a further £3.884 billion being raised from the VAT on the duty.///

[rov1100]

Own up Jake:

///The financials from taxation is probably the least pressing concern - there are plenty of things that can be taxed///

[Count-A-Strong]

Well those MPs expenses dont pay themselves you know!

[DTCwordfan]

@£1.28 a litre, I calculated the other day that the tax take was over 85p. The station gets 2 to 3p, the cost of crude was 30p leaving only 12 to 13p to cover refining (about 4 to 5p) distribution (2 to 3p) and the rest to cover sales, promotions, overheads, and profit (out of which the government takes corp tax). And the government also gets petroleum revenue tax out of the crude if it is UK produced.

[DTCwordfan]

No you see why the little dealer guy or network is going out of business; the margins are so thin.

[carrust]

Does the government charge VAT on the total price...£1-28? If it does, then that's a tax on a tax!

[gingejbee]

If it didn't come from fuel, it would have to come from somewhere else.

[DTCwordfan]

absolutely and this is the case across Europe. Excise goes up by 10p so VAT goes up 2p

[DTCwordfan]

and that is true gingjebee.

The one thing I would love to see presented would be a case for a flat tax like HK - 15% flat on about anything above 10k. No exemptions except if you house elderlies or disabled. High excises on anything with alcohol in it, tobacco in it or betting. Result a vibrant economy, smallest number of tax folk per £1000 in the world, very low incidence rate of tax avoidance.......as its so simple and everyone pays.

[rov1100]

This is a follow on to a question about electric vehicles

http://www.theanswerb...e/Question977100.html

[factor-fiction]

Sorry, I don't follow your post DTcrosswordfan when you refer to a flat tax of 15% on anything over £15000. Is that income or expenditure? If income, is that in place of the current 20%/40%/50% tax bands?

[R1Geezer]

your point is?

Well that's enough for the health service for 4 months!

not insignifican but I agree with jake, easily put on something else if necessary.

[jake-the-peg]

As pointed out on the other thread this is about 5% of Government revenue.

Your next point is?

[rov1100]

Well lets examine this and assume your 5% is correct.

Fuel duties is the 5th biggest revenue earner after

1. Income Tax
2. Nation Insurance
3. VAT
4. Corporation Tax

1. Income tax is harly likely to be increase. Based on £30bn shortfall this would amount to another 12p on the standard rate of income tax.
2. Neither is National Insurance where there was a huge debate recently
3. VAT..this has just been increased to 20%
4. Corporation Tax...in the last budget it was reduced 14% over 4 years to 24%

Either you have to create a new tax not on the list or government revenues will have to suffer. Admittedly this will not happen overnight.

[R1Geezer]

creata a new tax, 100's of possibilities, add to an existing tax again 100's of possibilities