With fuel prices on the rise, many small businesses and van insurance customers alike are being squeezed by costs they can no longer come to terms with. Aside from increasing their prices and decreasing their competitiveness as a result, methods of maintaining such high fuel costs are seemingly few and far between. Is a fuel duty stabiliser one way of counteracting prices which are currently only going one way?
The Federation of Small Businesses is looking into the plausibility of a fuel stabiliser, hitting back at those who have branded such a scheme as ‘too difficult to implement’.
A fuel stabiliser would act to cut duty when the prices of oil are high, and lower tax when they fell. This would result in a stabilisation of the price of fuel for end consumers such as van insurance customers and small businesses, putting an end to the price peaks many businesses are finding it difficult to come to terms with.
The chairman of the Federation of Small Businesses, John Walker, said: “Critics have said that the fuel duty stabiliser is too difficult to implement. We do not agree with such a statement. High fuel prices are having a huge impact on our members, hampering growth and in turn the economy at large. It is vital that we act now.
“A fuel duty stabiliser would give the UK’s five million small businesses the certainty and stability they need to factor in fuel costs to their business plans. It is unacceptable that the government has not delivered on its pledge and now says it is too complex. A fuel duty stabiliser can be easily introduced and must be put in place. Without it many small firms and van insurance customers alike will face a desperate fight for survival.”
One method of cutting the cost of motoring is by saving every penny you can on the cost of your van insurance premium. Here at Van Compare we scour the nation’s leading insurers on your behalf to bring you the best prices available.
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