Fuel duty cut will only offer light relief 

Global Freight Services reacts to today’s announcement of a fuel duty cut saying it will only offer light relief to businesses and consumers against the backdrop of other rising costs. 

Anton Gunter, managing director, said: “We very much welcome Chancellor Rishi Sunak’s decision to cut the duty on fuel but in our view he hasn’t gone far enough to ease the growing financial burden currently being felt by consumers and businesses alike.  

“Against the backdrop of rising inflation, increasing energy prices and the ongoing economic uncertainty due to the pandemic and political unrest in Ukraine, we’re just not sure how much of an impact 5p will have in real terms, if any. The savings will be minimal. 

“We understand the Chancellor is facing a difficult situation balancing rising public debt, but the next few years are likely to be tough for everyone and he needed to extend more support to the public and businesses at this critical time. 

“Transportation costs will continue to rise, food prices are soaring and energy costs are at the highest rate in years and we can’t see any of that changing any time soon. 

“For many people, they are facing a difficult and uncertain financial future. 

“What would be nice now is to see the large fuel companies following the government’s lead and lowering their own profit margins to help ease mounting fuel costs for those that need it most.” 

Mr Gunter was responding to the Spring Statement delivered by the Chancellor in Parliament on March 23.